However, the company noted that the business unit’s sales were below expectations due to ongoing supply-chain disruptions and lower sales to China’s hyperscale customers, who are affected by economic conditions. This year-over-year upswing was driven by the strong demand for its Ampere architecture products from cloud computing and AI providers. Revenues from Data Center (45.2% of revenues) jumped 61% year over year and 1% from the previous quarter to $3.81 billion. The decline was primarily due to a lower sell-in of Gaming products, reflecting reduced channel partner sales due to macroeconomic headwinds. Story continues Market Platform’s Top Line Detailsīased on the market platform, Gaming revenues (43.7% of revenues) plunged 33% year over year and 44% sequentially to $2.04 billion.

The company’s revenues came way below its May 2022 forecast of $8.10 billion (+/-2%) due to weaker sales across its Gaming and Data Center business segments. However, the top line declined 19% on a quarter-over-quarter basis.

Revenues of $6.7 billion met the consensus mark and increased 3% year over year. Moreover, the reported figure plunged 51% year over year and 63% sequentially. For the second quarter, NVIDIA reported non-GAAP earnings of 51 cents per share, which missed the Zacks Consensus Estimate by 8.9%. NVIDIA reported lower-than-expected earnings results for the second quarter of fiscal 2023. NVIDIA Misses Q2 Earnings Estimates, Issues Dim Q3 Guidance Will the recent negative trend continue leading up to its next earnings release, or is Nvidia due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Shares have lost about 29.9% in that time frame, underperforming the S&P 500. It has been about a month since the last earnings report for Nvidia (NVDA).

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