AMD, which makes chips for the PS5, Xbox, and Steam Deck, reports a 48% year-over-year drop in gaming revenue for Q1.
It looks like consumers are holding off buying gaming consoles and graphics cards, according to AMD, which reports that demand for gaming has plummeted.
The company’s Q1 earnings show that AMD’s revenue for gaming reached only $922 million, falling 48% year-over-year during the January to March period.
The decrease is significant since AMD not only produces PC graphics cards but also the chips for Sony’s PlayStation 5, Microsoft’s Xbox Series X, and Valve’s Steam Deck gaming handheld.
