CLAIM #46674 · NVIDIA Corporation (NVDA) · 2023Q1 earnings call · May 25, 2022 · due Oct 31, 2022
“We expect a diminishing contribution going forward.”
Colette Kress · CFO
In context
“and installed base with significant runway still ahead. Overall, end demand remained solid though mixed by region, and demand in Americas remained strong. However, we started seeing softness in parts of Europe related to the war in the Ukraine and 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. Channel inventory has nearly normalized and we expect it to remain around these levels in Q2. The extent in which cryptocurrency mining contributed to Gaming demand is difficult for us to quantify with any reasonable degree of precision. The reduced pace of increase in Ethereum network hash rate likely reflects lower mining activity on GPUs. We expect a diminishing contribution going forward. Laptop Gaming revenue posted strong sequential and year-on-year growth, driven by the ramp of the NVIDIA RTX 30 Series lineup. With this year's spring refresh and ahead of the upcoming back-to-school season, there are now over 180 laptop models featuring RTX 30 Series GPUs and our energy-efficient thin and light Max-Q technologies, up from 140 at this time last year. Driving this growth are not just gamers, but also the fast-growing category of content creators for whom we offer dedicated NVIDIA studio drivers. We've also developed applications and tools to empower artists from Omniverse for advanced 3D and collaboration to broadcast for live streaming to Canvas for painting landscapes with AI. The creator economy is estimated at $100 billion and powered by 80 million individual creators”
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SEC filings for NVDA ↗ · Claim quote is verbatim from the 2023Q1 earnings call.