In the estimated reduction in revenue, about $500 million are due to Russia-Ukraine war and the COVID-19 lockdowns in China.
In the first quarter ended May 1, revenue rose 46% to $8.29 billion while the company earned, excluding items, $1.36 per share, beating estimates of $1.29.
“We delivered record results in Data Center and Gaming against the backdrop of a challenging macro environment,” said Jensen Huang, founder and CEO of Nvidia.