“Our gaming product sell-through projections declined significantly as the quarter progressed,” said Jensen Huang, founder and CEO of NVIDIA. Second quarter results are expected to include approximately $1.32 billion of charges, primarily for inventory and related reserves, based on revised expectations of future demand. In addition to reducing sell-in, the company implemented pricing programs with channel partners to reflect challenging market conditions that are expected to persist into the third quarter.ĭata Center revenue, though a record, was somewhat short of the company’s expectations, as it was impacted by supply chain disruptions. The shortfall relative to the May revenue outlook of $8.10 billion was primarily attributable to lower sell-in of Gaming products reflecting a reduction in channel partner sales likely due to macroeconomic headwinds. Data Center revenue was $3.81 billion, up 1% sequentially and up 61% from the prior year. Gaming revenue was $2.04 billion, down 44% sequentially and down 33% from the prior year.
Second quarter revenue is expected to be approximately $6.70 billion, down 19% sequentially and up 3% from the prior year, primarily reflecting weaker than forecasted Gaming revenue. NVIDIA (NASDAQ: NVDA) today announced selected preliminary financial results for the second quarter ended July 31, 2022.
Management to discuss financial results and outlook on Aug.Shortfall versus outlook primarily driven by weaker Gaming revenue.Preliminary second quarter revenue of $6.70 billion versus outlook of $8.10 billion.
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