Nvidia's quarterly figures slump - prices for graphics cards to fall further
Nvidia is sitting on its GPUs. The manufacturer wants to empty the full warehouses with discount campaigns.
Nvidia's gaming division slumped by 2.04 billion US dollars or 44 percent within one quarter. Compared to the previous year, this is a third. As a result, the graphics card manufacturer Nvidia missed its sales forecast for the months May to July 2022 by 19 per cent. Instead of 8.1 billion US dollars, the figure is 6.7 billion. Nvidia as a whole was able to avoid worse thanks to its data centre division. It grew by 61 per cent year-on-year to 3.81 billion US dollars. That's according to the manufacturer's preliminary financial results. .
Main culprit: crypto crash
. CEO Jensen Huang blames macroeconomic conditions for the poor figures in the gaming division. By this he probably means the crypto crash in the spring and summer of 2022, which made mining Ethereum and co. much less attractive and miners bought fewer graphics cards than expected. In addition, the new generation of graphics cards is due to be released this year. Many gamers are therefore probably waiting to buy a new graphics card.
The high stock levels and the associated provisions are said to cost Nvidia around 1.32 billion US dollars. The manufacturer now wants to clear the stocks through discount campaigns in cooperation with its partners. So graphics card prices will continue to fall.
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