Lisa Su, the CEO of AMD, acknowledged in the latest quarterly earnings call that the gaming console market has seen a significant decline in sales, resulting in a corresponding decrease in AMD’s revenue for this segment. AMD supplies chips for both the PS5 and Xbox Series X|S, making them a key player in the console hardware market. Lisa noted that the reduced demand for consoles has led the company to adjust their earnings estimates by over 30% in the first and second quarters of this year, with a more pronounced decrease in the second quarter.
In Microsoft’s latest quarterly earnings report, they also reported a 31% decline in hardware revenue, despite strong sales numbers. However, they have revised their sales target for the PS5 for this year, reducing it from 25 million units to 21 million units.
Source: VentureBeat
TLDR: Lisa Su of AMD and Microsoft both acknowledge a decline in gaming console sales, leading to adjustments in revenue estimates and sales targets.
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