Omniverse enterprise software also proved to be a support for the revenues. The professional visualization segment’s growth was driven by mobile workstation GPUs enabled by remote office infrastructure against the backdrop of hybrid work environments. Pro visualization grows 79.5% YoY to achieve $629 million in revenues However, the GeForce Cloud Gaming will continue to grow as more and more players move towards cloud gaming, which presents itself as an inexpensive alternative to premium device gaming. We believe due to the inflationary environment and tumultuous consumer demand and price cuts, the segment may face a revenue decline in the coming quarters. The company also expects a sequential revenue decrease due to architectural transitions. Uncertainties faced by the cryptomarket globally also added to the headwinds in the gaming segment. The geopolitical situation in Europe caused a demand softness along with COVID-19 lockdowns in China but was cushioned by the growing American demand. Nvidia estimates that about one-third of the GeForce Gaming GPU installed base is now on RTX. The demand was primarily fuelled by the GeForce RTX 30 series. Gaming revenue stood at $3.6 billion with 33% YoY growth. Gaming revenue to decline in Q2 due to architectural transition, mixed global demand Source: Counterpoint Estimates, Company earnings Earnings are CY Quarter The A100 GPU, with large-volume deployments by hyperscale customers, proved to be a key factor in the data center segment’s revenue growth of 79.4% YoY to $3.6 billion. The GeForce RTX 30 Series’ product cycle enabled the gaming segment to grow 33% YoY to achieve $3.6 billion in revenues. The company’s data center segment surpassed the gaming segment for the first time to become the largest revenue contributor. If Nvidia reports anything resembling an earnings "beat" tomorrow - and follows that up with something other than abysmal guidance for the rest of the year, there's even a possibility Nvidia stock could pop after earnings.Nvidia reported a 48% YoY revenue growth in Q1 2022 at $8 billion. But I have to say that, at a P/E ratio of 45 today, and with analysts still forecasting long-term earnings growth rates of 22.5% for Nvidia - so a 2.0 PEG ratio - the stock is finally starting to approach a reasonable valuation. Granted, it's possible not enough bad news has been baked in.
But one look at the stock chart is all it takes to tell you that a lot of bad news has already been baked into Nvidia stock's price. Nvidia's sales and earnings tomorrow may not be all that investors had hoped to see - analysts are forecasting per-share earnings of as little as $0.20 per share, down 79% year over year. For that matter, the stock is down nearly 10% over just the past week. Since 2022 began, Nvidia stock has been 43% on sale.
So why is Nvidia stock up today? That's a great question, but I suspect the answer may be as simple as: bottom-fishing.
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