Nvidia trims earnings outlook by $100 million over coronavirus concerns

Shawn Knight

TechSpot Staff
Staff member

Q4 earnings per diluted share were $1.53, up an impressive 66 percent from $0.92 in the year-ago quarter and six percent over the $1.45 in the previous quarter.

Nvidia co-founder and CEO Jensen Huang cited record data center revenue in the quarter. “Adoption of Nvidia accelerated computing drove excellent results,” he added.

Full-year figures weren’t quite as positive, however, as Nvidia earned just $10.92 billion last year. That’s a seven percent decrease from the $11.72 billion generated a year earlier.

Nvidia, like many others, is already feeling the financial impact of the coronavirus. The company was among several that pulled out of Mobile World Congress 2020 earlier this month. Given the health concerns and the fact that many were already off the docket, event coordinators had no choice but to cancel the conference.

That said, Nvidia reduced its revenue outlook for the coming quarter by $100 million to account for the virus’ potential impact. Now, the company expects revenue of $3.00 billion, plus or minus two percent.

Masthead credit: Nvidia building by jejim. MWC by Angel Garcia, Bloomberg.

Permalink to story.

 

psycros

TS Evangelist
Loooong past time to bring the chip business back to North America. The high costs of playing footsie with a neo-communist regime should be very obvious by now.
 
  • Like
Reactions: p51d007

Uncle Al

TS Evangelist
Their new figure may be optimistic according to most recent news releases that project the impact of the virus as far as 12 months out. In the meantime it is reported that most (not all) factories are currently idled by the general lack of employee's that are prohibited from moving about .....
 

OneSpeed

TS Evangelist
I think it's a good move to be ahead of the financial analysts with this. Better to provide the warning to investors than to have covid19 bite you later.