NVIDIA reported Q2 FY2023 revenue of $6.7 billion, a 19% sequential decline driven primarily by a 44% drop in Gaming revenue.

According to "NVIDIA Quarterly Report: Form 10-Q (Q2 FY2023)": NVIDIA reported Q2 FY2023 revenue of $6.7 billion, a 19% sequential decline driven primarily by a 44% drop in Gaming revenue.

Net income fell sharply to $656 million from $2.37 billion in the prior year, largely due to a $1.35 billion Arm Limited acquisition termination fee and $1.34 billion in inventory reserves.

According to "NVIDIA Quarterly Report: Form 10-Q (Q2 FY2023)": Net income fell sharply to $656 million from $2.37 billion in the prior year, largely due to a $1.35 billion Arm Limited acquisition termination fee and $1.34 billion in inventory reserves.

The Data Center business remains a primary growth driver, with the Compute and Networking segment achieving 61% year-over-year growth despite broader market instability.

According to "NVIDIA Quarterly Report: Form 10-Q (Q2 FY2023)": The Data Center business remains a primary growth driver, with the Compute and Networking segment achieving 61% year-over-year growth despite broader market instability.

Gross margins contracted to 43.5% as a result of inventory charges and increased warranty liabilities related to third-party component defects.

According to "NVIDIA Quarterly Report: Form 10-Q (Q2 FY2023)": Gross margins contracted to 43.5% as a result of inventory charges and increased warranty liabilities related to third-party component defects.

New U.S. government export license requirements for high-performance semiconductors destined for China and Russia present a material risk to future revenue.

According to "NVIDIA Quarterly Report: Form 10-Q (Q2 FY2023)": New U.S. government export license requirements for high-performance semiconductors destined for China and Russia present a material risk to future revenue.

The company maintains a strong liquidity position with $17 billion in cash and marketable securities and has $11.93 billion remaining in share repurchase authorization through 2023.

According to "NVIDIA Quarterly Report: Form 10-Q (Q2 FY2023)": The company maintains a strong liquidity position with $17 billion in cash and marketable securities and has $11.93 billion remaining in share repurchase authorization through 2023.

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Key Insights

NVIDIA Quarterly Report: Form 10-Q (Q2 FY2023)

NVIDIA~147 min full read

01
NVIDIA reported Q2 FY2023 revenue of $6.7 billion, a 19% sequential decline driven primarily by a 44% drop in Gaming revenue.
02
Net income fell sharply to $656 million from $2.37 billion in the prior year, largely due to a $1.35 billion Arm Limited acquisition termination fee and $1.34 billion in inventory reserves.
03
The Data Center business remains a primary growth driver, with the Compute and Networking segment achieving 61% year-over-year growth despite broader market instability.
04
Gross margins contracted to 43.5% as a result of inventory charges and increased warranty liabilities related to third-party component defects.
05
New U.S. government export license requirements for high-performance semiconductors destined for China and Russia present a material risk to future revenue.
06
The company maintains a strong liquidity position with $17 billion in cash and marketable securities and has $11.93 billion remaining in share repurchase authorization through 2023.

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