NVIDIA Corporation Q2 FY2023 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Overview

  • Total revenue was $6.7B, down 19% sequentially and up 3% year-over-year. This fell short of the prior $8.1B outlook due to significantly weaker Gaming revenue.
  • The company cites macroeconomic headwinds, supply chain challenges, and a sharp drop in consumer demand as the main drivers of underperformance.

Segment Performance

Gaming
  • Revenue: $2.04B, down 44% sequentially and down 33% year-over-year.
  • Drivers: Lower unit shipments and ASPs, weakened European demand (war in Ukraine), China lockdowns, and broader macro softness.
  • NVIDIA reduced Gaming GPU sell‑in to allow channel inventory to correct and is preparing for launch of its next‑gen architecture.
  • Sell-through remains strong, up 70% since pre-pandemic levels.
  • No quantification provided on impact from reduced cryptocurrency mining, but NVIDIA believes crypto contribution diminished meaningfully.
Professional Visualization (ProViz)
  • Revenue: $496M, down 20% sequentially and down 4% year-over-year.
  • OEM inventory corrections and enterprise demand slowdown drove the decline.
  • Company emphasizes long-term growth tied to hybrid work, Omniverse, AI-enabled design workflows.
Automotive
  • Revenue: $220M, up 59% sequentially and up 45% year-over-year.

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Operator: Good afternoon. My name is Regina, and I will be your conference operator today. At this time, I would like to welcome everyone to NVIDIA’s Second Quarter Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be question-and-answer session. [Operator Instructions] [Technical Difficulty] Simona Jankowski: Conference call for the second quarter of fiscal 2023. With me today from NVIDIA are Jensen Huang, President and Chief Executive Officer; and Colette Kress, Executive Vice President and Chief Financial Officer. I’d like to remind you that our call is being webcast live on NVIDIA’s Investor Relations website. The webcast will be available for replay until the conference call to discuss our financial results for the third quarter of fiscal 2023. The content of today’s call is NVIDIA’s property. It can’t be reproduced or transcribed without our prior written consent. During this call, we may make forward-looking statements based on current expectations. These are subject to a number of significant risks and uncertainties, and our actual results may differ materially. For a discussion of factors that could affect our future financial results and business, please refer to the disclosure in today’s earnings release. Our most recent Forms 10-K and 10-Q and the reports that we may file on Form 8-K with the Securities and Exchange Commission. All our statements are made as of today, August 24, 2022, based o

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional