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Nvidia trims earnings outlook by $100 million over coronavirus concerns

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In brief: Nvidia in its latest earnings report this week said it generated $3.11 billion in revenue for the fourth quarter of fiscal year 2020 that ended on January 26. That’s an increase of 41 percent over the $2.21 billion brought in during the same period a year ago and a three percent hike quarter-over-quarter.

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.


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Nvidia trims earnings outlook by $100 million over coronavirus concerns Nvidia trims earnings outlook by $100 million over coronavirus concerns Reviewed by kogonuso on February 14, 2020 Rating: 5

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