NVIDIA Announces Financial Results for Third Quarter Fiscal 2023
NVIDIA today reported revenue for the third quarter ended October 30, 2022, of $5.93 billion, down 17% from a year ago and down 12% from the previous quarter.nvidianews.nvidia.com
Gaming revenue half of same quarter last year, inventory up 100% from last year to $4.5B. But they are saved from posting an outright terrible result by growing data center revenue 31% YoY, to $3.83B, or now 2.4 times as much as their entire gaming revenue. Total revenue is down 17% YoY, income down 72% YoY.
Their balance sheet is worrying, though, and appears to prove MLID right on at least something. They have both $4.5B of inventory, and a total of about ~$4B of pre-paid assets (... where they hid the non-current part under "other non-current assets". Not illegal, but given they have not done that before, also not a good look. Rather drawing the eye where they don't want you to look.) Given how inventory is on balance sheet on basis of cost, not value, they are probably sitting on more than a year's sales worth of inventory + pre-paid fab allocations. And that's at normal sales numbers. If you assume that past quarter was representative of gaming sales for the near future, they will probably still be selling GA102-based cards next summer.
That’s rough. They don’t seem to be aggressively trying to rid themselves of that inventory though. I still can’t find a 3050 anywhere near MSRP.