Automotive is becoming a tech industry and is on track to be our next billion-dollar business.
“Accelerated computing and AI, the pioneering work of our company, are transforming industries.
“We are navigating our supply chain transitions in a challenging macro environment and we will get through this,” said Jensen Huang, founder and CEO of Nvidia, in a statement. Non-GAAP earnings per diluted share were 51 cents, down 51% from a year ago and down 63% from the previous quarter. GAAP earnings per diluted share for the quarter were 26 cents down 72% from a year ago and down 59% from the previous quarter. The company said it is unable to determine what impact slipping demand for crypto mining had on the lower revenues. Nvidia saw softness due to the war in Ukraine and a slowdown in China, with macroeconomic slowdowns around the world affecting consumer demand in a negative way. Nvidia released its preliminary earnings on August 8, when it warned investors that the company was going to miss on its own expectations for the quarter as gaming sales weakened. And for gaming they expected $2.0 billion versus $3.1 billion last year. Earnings per share came in at 26 cents on a GAAP basis, compared to expectations of 35 cents a share.įor the data center, analysts expected $3.8 billion versus $24 billion last year. Analysts expected revenue of $6.7 billion versus $6.5 billion last year. Revenues came in at $6.7 billion, up 3% from a year ago and down 19% from the previous quarter.
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