?Gaming revenue was short of our expectations, and our fourth-quarter outlook is impacted by excess channel inventory of midrange Pascal products,? Nvidia Chief Financial Officer Colette Kress said in a statement. ?We believe this is a near-term issue that will be corrected in one to two quarters, and remain confident in our competitive position and market opportunities.?
Gaming revenue rose 13% from a year ago to $1.76 billion, but that was way below the Wall Street consensus of $1.91 billion.
On a conference call, Kress said that the quarter ?included a $57 million charge for prior architecture components and chips following the sharp falloff of crypto mining demand.?