NVIDIA CEO Huang Renxun admits that he has made too many graphics cards and is currently selling them at a reduced price
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Update time : 2022-08-31 10:52:32
The sales of personal computers dropped suddenly in this quarter, and NVIDIA, like Intel, was suddenly in trouble. NVIDIA today announced the company's financial results for the second quarter of fiscal year 2023. According to the report, NVIDIA's revenue in the second fiscal quarter was US $6.704 billion, an increase of 3% compared with us $6.507 billion in the same period of the previous year, and a decrease of 19% compared with us $8.288 billion in the previous fiscal quarter; Net profit was US $656 million, down 72% from US $2.374 billion in the same period of the previous year and 59% from US $1.618 billion in the previous fiscal quarter; The adjusted net profit not in accordance with the US GAAP was US $1.292 billion, down 51% from US $2.623 billion in the same period of the previous year and 63% from US $3.443 billion in the previous fiscal quarter.
Although the second quarter results are not satisfactory for NVIDIA, the opposite may be true for gamers. Huang Renxun, chief executive officer of NVIDIA, confirmed the speculation of the outside world over the past few months, that is, the company has manufactured too many graphics cards and is now forced to sell them at a lower price. Huang Renxun said, "we find that we have excess inventory. Our strategy is to sell at a much lower level than the current sales level in the market, so as to give the channel a chance to correct." Huang Renxun also said: "we have implemented some plans with our partners to price our products in the channel to prepare for our next generation of products." Huang Renxun's words indicate that in order to sell as many RTX 3000 Series graphics cards as possible before the arrival of RTX 4000 series this autumn, NVIDIA is currently reducing the price. Of course, this does not necessarily mean that the price of graphics cards or game notebooks will be greatly reduced immediately, because the final price depends on the partners and retailers. Of course, they also have the motivation to clear the inventory, but they may disguise the price reduction of graphics cards as a promotion instead of announcing a comprehensive price reduction. In any case, the price trend of the future graphics card is definitely downward. Huang Renxun also hinted that the current generation of AMP GPU will coexist with the next generation of GPU. Second, Collette Kress, chief financial officer of NVIDIA, said that the company might have new business to improve its game revenue. She said on the conference call that NVIDIA has "a new market segment, and we plan to develop it with our game technology". It home learned that NVIDIA repeatedly stressed on today's second quarter 2022 earnings conference call that despite the sudden drop in revenue, the demand for games has not actually decreased, and pointed out that the sales volume of geforce has increased by 70% since the outbreak.
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