Nvidia's Games Revenue Plunges By Over A Billion Dollars
In its Q2 2022 preliminary financial results, Nvidia noted it fell $1.4 billion short of expectations. Revenue is estimated to be just $6.7 billion, down $8.1 billion from its previously released outlook. Revenues have also fallen from $3.06 billion to $2.04 billion. Nvidia explained the shortfall was "primarily driven by weaker Gaming revenue."
This represents a huge reversal from 2020, where pandemic lockdowns created a buying frenzy in the GPU market and pushed graphics card prices to ridiculous heights. But as the pandemic has waned, so too have Nvidia’s fortunes. Inflation fears, a slowing economy, and expectations that Nvidia will release a new slate of video cards later this year have led potential buyers to hold off on purchasing new upgrades.
Another reason for the shortfall is the crypto crash. Nvidia had been incorrectly categorizing sales for crypto-mining unders its gaming business, which led the SEC to fine the company $5.5 million. However, he crypto crash has caused a rapid fall in demand for Nvidia hardware as cryptominers sell their graphics cards on the secondary market to recoup their investments.
Other tech companies are reporting a similar dip in sales as customers opt to save rather than spend. One exception is rival graphics card producer AMD, which recently reported a "record" 32 percent increase in revenue year over year. The gaming side of AMD is now the company’s second-biggest business, with $5 billion in expected annual revenue. AMD offers video card for PC, but most of those sales are to Sony and Microsoft where AMD chips power both the PS5 and Xbox Series X|S home consoles.
Is now the time to buy a new video card? It's hard to say, but you might want to reconsider purchasing a graphics card from Amazon. One hopeful PC gamer wound up getting a tupperware full of sand rather than a GeForce RTX 3090 Ti.
Posted:
Related Forum: PC Gaming Forum
Source: https://www.thegamer.com/nvidias-game-revenue-plunges/
Related Articles
Comments
Latest Downloads
- 01. Pac-Man Championship Edition (Xbox 360)(0)
- 02. Crash Of The Titans (Xbox 360 - Game Save 93% complete)(0)
- 03. Titan Quest - Anniversary Edition: SaveGame (Level 85 caster)(0)
- 04. [EU] Space Roguelike Adventure (Insta-Plat Save) [CUSA35362](2)
- 05. Operation: Matriarchy - SaveGame (The Game done on hard difficulty) [1.0](1)
- 06. LEGO Star Wars: The Skywalker Saga - SaveGame (The game done 100%) [Steam](2)
- 07. Through the Woods: SaveGame (The Game done 100%) [Steam](1)
- 08. Humans are not that against Lizardwomen: SaveGame (The Game done 100%)(1)
- 09. Tekken 1 100% save game file for Retroarch US version(0)
- 10. The Expanse: A Telltale Series - SaveGame (all chapters are opened, trophies are unlocked)(1)
- 11. Need for Speed: Most Wanted (2005) - SaveGame (Good start, 6 cars) [1.0](1)
- 12. Commandos: Strike Force - SaveGame(1)
- 13. Mario Party 2 100% Complete Save(4)
- 14. Mario Party 2 (Virtual Console) Save(0)
- 15. My Summer Car: SaveGame (Satsuma blue moon)(0)
Latest Tutorials
- 01. The Redress Of Mira 100% Walkthrough | Trophy & Achievement(790)
- 02. Russian Pinocchio Quick Trophy Guide(1,058)
- 03. Venatrix Quick Trophy & Achievement Guide(1,139)
- 04. Call of the Sea 100% Platinum Walkthrough(1,073)
- 05. Wire Lips 100% Platinum Walkthrough(1,170)
- 06. The Expanse 100% Platinum Walkthrough | Trophy & Achievement(1,021)
- 07. Doctor Who: The Edge of Reality - PS4 Platinum P/Thru(956)
- 08. Doctor Who:The Lonely Assassins - 100% Guide(804)
- 09. DAYMARE 1998 PS4 - Full game 100% TROPHY WALKTHROUGH(847)
- 10. Stray Platinum Walkthrough | Trophy & Achievement Guide(798)
- 11. Raji: An Ancient Epic | Complete Gameplay Walkthrough(1,083)
- 12. Corpse Killer: 25th Anniversary Edition - Longplay(1,054)
- 13. Song of Horror: Complete Edition Gameplay Walkthrough(747)
- 14. Remoteness 100% All Trophies Walkthrough(1,176)
- 15. Detective Inspector Mysterious Clues Platinum Walkthrough(873)
"Nvidia's Games Revenue Plunges By Over A Billion Dollars" :: Login/Create an Account :: 2 comments