Nvidia forecasts massive Q4 revenue drop
Print storySales down 40 to 50 per cent
Posted in Financial News, 13th January 2009 19:46 GMT
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Nvidia has warned that its revenue will fall sharply below previous estimates due to collapsing demand from end-users and PC makers in the global recession.
The graphics chip maker now expects to report a decline in its fiscal fourth quarter sales of between 40 and 50 per cent compared to the previous quarter. Based on its third quarter revenue of $897.7m, Nvidia now expects Q4 sales to fall to between $538.62m and $448.85m.
In a November conference call with investors, Nvidia projected a sales decline of only about 5 per cent.
In fiscal Q4 the previous year, Nvidia reported revenue of $1.20bn.
The company blamed its massive revenue whiff on "further weakness in end-user demand and inventory reductions by Nvidia's channel partners."
The company will report its fiscal Q4 earnings on February 10. ®
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