Tuesday, September 26, 2023

Nvidia’s gaming revenue fell 33 percent from last year’s peak

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Nvidia’s Q2 results won’t be out for two weeks, but the company today dropped its preliminary numbers and the results don’t look particularly good for his gaming business. Gaming revenue is reported at $2.04 billion, a staggering 33.33 percent drop from the previous year’s $3.06 billion.

The shortfall mirrors other gaming hardware companies, including Logitech, which reported a 12 percent decline compared to the same quarter last year, due to peak pandemic changes where consumers are done investing in all kinds of home appliances for work, play and even exercise. And game sales as a whole fell 13 percent in the second quarter to $12.35 billion compared to last year, according to market research firm NPD.

An anomaly for this period is AMD, which increased its gaming revenues by 32 percent year over year, mainly on game console chipset sales as the Xbox series X/S and PlayStation 5 have become more widely available.

For Nvidia, the numbers show a rollback in consumer buying behavior toward 2020, when the company reported just $1.65 billion in gaming revenue in the same quarter — marking a 23.66 percent increase compared to today. . But with the GPU shortage suddenly over, cryptocurrency miners driven out of the picture by the combination of falling prices and potential technological changes, and a new generation of 40-series graphics chips just around the corner, Nvidia is once again in a position to trying to entice gamers with free games as they upgrade their cards.

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