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NVIDIA released Q2 results for fiscal year 2023: RTX 30 series graphics cards are still super-stable, and the game market has sufficient stamina.

2025-01-21 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >

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Shulou(Shulou.com)11/24 Report--

NVIDIA released its second-quarter financial results for the quarter ended July 31, 2022, on Aug. 24 Pacific time, which showed that NVIDIA had revenue of $6.7 billion in the second quarter of this year, up 3% from the same period last year and down 19% from the previous quarter.

Meanwhile, NVIDIA's net profit in the second quarter of this year was $656 million, down 72 per cent from $2.374 billion a year earlier and 59 per cent from $1.618 billion in the previous quarter. At the same time, diluted earnings per share were $0.26, down 72% from $0.94 a year earlier and down 59% from $0.64 in the previous quarter.

In addition, Nvidia expects revenue to reach $5.9 billion in the third quarter of fiscal 2023, up or down 2 per cent. Gross profit margins for GAAP and non-GAAP are expected to be 62.4% and 65.0% respectively, fluctuating by 50 basis points respectively.

In addition, NVIDIA paid $3.44 billion to shareholders in the form of share buybacks and cash dividends during the second quarter of fiscal 2023. The company can also buy back $11.93 billion worth of shares under a share repurchase authority that runs until December 2023. NVIDIA plans to continue to buy back shares in the current fiscal year.

Overall, NVIDIA's adjusted earnings and revenue fell short of Wall Street analysts' expectations in the second quarter. According to the analysis of the reasons, Nvidia said that the revenue that did not meet expectations was mainly affected by the poor performance of the game business, while the poor performance of the game business was mainly due to the fact that the hardware industry chain was in the process of "destocking". The adjustment is expected to be completed by the end of the year. And with the launch of new graphics cards in the second half of the year, the game business will return to normal.

After the release of the results, Huang Renxun, founder and CEO of NVIDIA, also said: "We are undergoing supply chain transformation in a challenging macro environment, and we will tide over the difficulties."

Let's take a specific look at the performance of the NVIDIA games business in the second quarter, where overall revenue was $2.04 billion, down 33% from the same period last year and 44% from the previous quarter. Game business revenue accounts for 30% of NVIDIA's total revenue, compared with 44% in Q4 in fiscal year 2022 and 43% in Q1 in fiscal year 2023, which shows that the performance of game business does have an important impact on the overall performance of NVIDIA.

According to Nvidia's explanation, the performance of the game business is controllable. The game business is mainly PC graphics cards. In the first half of this year, with the gradual unsealing of the epidemic in Europe and the United States, the demand for PC at home office peaked, coupled with high inflation and the decline in demand for mining machine business, the market demand for PC and graphics cards is falling into a relative trough, but this trend is reflected in the lag effect in the supply chain, resulting in excess inventory of NVIDIA and pressure on inventory costs. At present, NVIDIA is planning to reduce graphics card shipments and actively eliminate inventory to get the supply chain back on track.

In addition, Nvidia also said that the current market performance of GeForce series graphics cards is stable, the demand for games in the end market is also stable, and its total graphics card sales have increased by 70% since the outbreak of COVID-19. In particular, the graphics card based on Ampere architecture is currently the most popular GPU of NVIDIA, and it is also one of the 15 most popular game GPU on Steam. It redefines PC graphics computing. At present, NVIDIA RTX technology is supporting nearly 300 games and applications.

At the same time, Huang Renxun, founder and CEO of NVIDIA, also said: "I look forward to the GTC conference next month, at which we will share the new developments in RTX and breakthroughs in AI and meta-universe, which will be the next evolution of the Internet. Welcome to join us." It is believed that this will further boost demand in the PC and graphics card markets. Coupled with the NVIDIA to adjust the supply chain, the game business will be back on track.

In addition to the game business, the data center business and automobile business have undoubtedly become the new growth engine of NVIDIA, and are also the main bright spots in this second-quarter financial report.

Of this total, revenue from the data center business in the second quarter was $3.81 billion, up 61 per cent from the same period last year and 1 per cent from the previous quarter. At present, NVIDIA has announced that a number of world's leading computer manufacturers, including Source News, Dell Technology, gigabyte Technology, Wisdom, Tide, Lenovo and Ultra Micro, are using NVIDIA Grace ™super chips to build HGX ™systems. At the same time, NVIDIA also released the quantum optimization device architecture QODA ™, a unified computing platform to accelerate quantum research and development breakthroughs in AI, high performance computing (HPC), healthcare, finance, and other disciplines. All kinds of outstanding performance make people believe that the data center business will grow steadily in the future.

In the automotive business, NVIDIA earned $220 million in the second quarter, up 45 per cent from the same period last year and 59 per cent from the previous quarter. Recently, automotive business partners such as Ulay, ideal, Jidu and Chinese Express are planning to launch new models using the DRIVE Orin ™computing platform, as well as Xiaoma Zhihang's use of DRIVE Orin in its self-driving van and self-driving taxi product line, which will drive further growth of the NVIDIA car business.

In addition, revenue from NVIDIA's professional vision business was $496 million in the second quarter, down 4 per cent from the same period last year and 20 per cent from the previous quarter. But at the same time, NVIDIA has expanded its cooperation with Siemens to achieve an industrial meta-universe and to increase the use of AI digital twins. And they also released the cloud native AI model and service Omniverse ™Avatar Cloud Engine in early August, making it easier to build and customize lifelike virtual helpers and digital people. These achievements are enough to make the outside world look forward to the visual performance of NVIDIA in AI.

As NVIDIA founder and CEO Huang Renxun said, "accelerated computing and AI are groundbreaking work for our company, and they are revolutionizing a variety of industries." Automobiles are becoming a technology industry and are expected to be our next billion dollar business. Advances in AI are driving the development of our data center business while accelerating breakthroughs in drug discovery, climate science, robotics and other areas. "

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