Nvidia's Gaming Recovery Will Take a While
Nvidia's (NASDAQ: NVDA) gaming business was a mess in its fiscal third quarter ended Oct. 30. Revenue tumbled 51% year over year and 23% from the previous quarter as a combination of weak demand and partners working feverishly to reduce inventories greatly reduced shipments.
Weakness in the gaming and professional visualization segments more than offset solid data center and auto sales. Overall revenue tumbled 17% year over year, and Nvidia's adjusted earnings per share was cut in half.
Nvidia's gaming sales surged throughout the pandemic as demand for graphics cards from gamers and crypto miners overwhelmed supply. The company generated $3.62 billion of quarterly gaming revenue at its peak.
Source Fool.com
