Due to this, analysts expect Nvidia to end fiscal year 2023 with 0.8% revenue growth, or $27.13 billion in total revenue. This is down from $7.10 billion in Q3 of last year. Next quarter, Nvidia was expected to report $6.92 billion and the company guided for $5.9 billion. It’s the company’s past performance that makes it well worth the time to answer: can Nvidia do it again? Nvidia’s GeForce RTX 40 Series is Perfectly Timed Perhaps most impressive, Nvidia is still in the lead over all mega cap stocks despite a 57% drawdown this year. It’s the company’s past performance that makes it well worth the time to answer: can Nvidia do it again? YCharts Perhaps most impressive, Nvidia is still in the lead over all mega cap stocks despite a 57% drawdown.
In all cases except Apple, Nvidia doubled, tripled or quadrupled the performance of other mega cap stocks. This was not simply because all tech performed well during those years – if you compare Nvidia to Meta, Amazon and Google, you’ll see something unique occurred with Nvidia that caused the stock to outpace its peers.
The CFO affirmed this understanding is correct.Īfter 2018, although it took Nvidia eighteen months to reclaim its all-time highs, in 2020-2021, Nvidia would go on to stage a remarkable turnaround as the stock led tech mega cap stocks in gains. According to one analyst on the call, they are modeling for a further 30% sequential decline in gaming and professional visualization offset by low to mid-single digit growth in data center and automotive. The company is expecting a further decline in gaming sequentially for Q3. In the most recent quarter ending July 2022, the company missed on gaming with revenue of $2.04 billion, which is 33% lower than the year ago quarter and 44% lower sequentially. In Q4 2018, gaming revenue was $954 million, down 45% YoY and down 46% QoQ.
Gaming revenue in Q3 2018 was $1.76 billion, up 13% YoY and down 2% QoQ. In January 2019, the company again lowered revenue guidance from $2.7 billion to $2.20 billion, which suggests a total revenue miss of $1.2 billion. During the Q3 2018 results released in November 2018, Nvidia gave Q4 2018 revenue guidance of $2.7 billion, below the analysts’ consensus estimate of $3.4 billion.
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