Actual revenues for Nvidia's FQ2'23 were indeed $6.7B, showing 3% growth year-over-year, but also a 19% drop-off compared to FQ1. Nvidia guided for $6.7B in FQ2 revenues due to a 33% year-over-year top line decrease in the Gaming segment.
Nvidia's second quarter results largely conformed with the release of preliminary results from the beginning of August. Because of the size of the expected revenue drop-off in FQ3'23, Nvidia's shares are likely set to correct further to the downside! Nvidia's FQ2'23 earnings card was as expected Nvidia is seeing a massive slowdown in its Gaming business due to weakening demand and pricing for graphics processing units which have supported the chip maker's results last year. Part of the earnings report card was the outlook for Nvidia's third fiscal quarter, which was significantly worse than expected. Nvidia ( NASDAQ: NVDA) finally released highly anticipated earnings for its second fiscal quarter of FY 2023.
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