Nvidia Projects FY Q2 Gaming Revenue Will Decline Sequentially

Demand for the GeForce RTX 30 Series graphics processing units drove a 31% year-over-year increase in Nvidia’s gaming revenue to $3.6 billion in its fiscal Q1 ended May 1, said Chief Financial Officer Colette Kress on a Wednesday earnings call. “The gaming industry has grown tremendously, with 100 million new PC gamers added in the past two years,” said Kress, citing Newzoo data. “End demand” for RTX graphics cards “remained solid” throughout the quarter, “though mixed by region,” with demand in the Americas staying strong, she said. “We started seeing softness in parts of Europe related to the war in the Ukraine and in parts of China due to the COVID lockdowns. As we expect some ongoing impact as we prepare for a new architectural transition later in the year, we are projecting gaming revenue to decline sequentially in Q2.”