Billions in revenue, over a billion in profit.
in quarterly revenue in today’s earnings results, and that’s just about where it landed: $6.05 billion in revenue, down 21 percent, of which $1.4 billion was profit, down 53 percent. For the full year, it raked in $26.92 billion, almost identical to last year, though profit was down 55 percent.. Now it’s the status quo: the company says it’s expecting to see $6.5 billion next quarter, too.
Nvidia’s data center and automotive businesses were actually up this quarter, with record revenue for automotive of $294 million; the dip was largely in Nvidia’s graphics business, particularly gaming, which were each down 46 percent. That gaming decline includes “lower shipments of SOCs for game consoles,” which is code— it’s the only game console that uses an Nvidia chip.
Like other chipmakers, Nvidia is shipping fewer GPUs to retailers and partners instead of slashing prices. The polite phrase is “lower sell-in to partners to help align channel inventory levels with current demand expectations.” Nvidia also blamed disruptions in China due to covid and other issues.
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