The segment comprises Data Center platforms and systems for artificial intelligence, high-performance computing and accelerated computing, the DRIVE development platform for autonomous vehicles and Jetson for robotics and other embedded platforms.Compute & Networking revenues soared 50% year over year and 6% sequentially to $3.91 billion.Market Platform’s Top Line DetailsBased on the market platform, Gaming revenues (43.7% of revenues) plunged 33% year over year and 44% sequentially to $2.04 billion. The segment’s top line plunged 28% year over year and 39% sequentially to $2.8 billion.Compute & Networking represented 58.3% of fiscal second-quarter revenues. The company’s revenues came way below its May 2022 forecast of $8.10 billion (+/-2%) due to weaker sales across its Gaming and Data Center business segments.Segment DetailsNVIDIA reports revenues under two segments – Graphics and Compute & Networking.Graphics includes GeForce GPUs for gaming and personal computers, the GeForce NOW game-streaming service and related infrastructure, along with solutions for gaming platforms, Quadro GPUs for enterprise design, GRID software for cloud-based visual and virtual computing and automotive platforms for infotainment systems.Graphics accounted for 41.7% of fiscal second-quarter revenues. However, the top line declined 19% on a quarter-over-quarter basis. Moreover, the reported figure plunged 51% year over year and 63% sequentially.Revenues of $6.7 billion met the consensus mark and increased 3% year over year. For the second quarter, NVIDIA reported non-GAAP earnings of 51 cents per share, which missed the Zacks Consensus Estimate by 8.9%. NVIDIA Misses Q2 Earnings Estimates, Issues Dim Q3 GuidanceNVIDIA reported lower-than-expected earnings results for the second quarter of fiscal 2023.
Shares have lost about 29.9% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Nvidia due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. It has been about a month since the last earnings report for Nvidia (NVDA).
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