Edition:
United Kingdom

Nvidia updates financial guidance for fourth quarter of fiscal year 2019


Monday, 28 Jan 2019 

Jan 28 (Reuters) - NVIDIA Corp ::NVIDIA UPDATES FINANCIAL GUIDANCE FOR FOURTH QUARTER OF FISCAL YEAR 2019.Q4 REVENUE EXPECTED TO BE $2.20 BILLION VERSUS PREVIOUS GUIDANCE OF $2.70 BILLION.GAMING AND DATACENTER REVENUE BELOW COMPANY'S EXPECTATIONS.FOR Q4, EXPECTS ITS GAAP AND NON-GAAP GROSS MARGIN TO BE IMPACTED BY APPROXIMATELY $120 MILLION IN CHARGES.UPDATED GUIDANCE FOR Q4 OF FISCAL YEAR 2019, REFLECTING WEAKER THAN FORECASTED SALES OF ITS GAMING AND DATACENTER PLATFORMS.NVIDIA - IN DATACENTER, DESPITE NEAR-TERM HEADWINDS, BELIEVES ITS COMPETITIVE POSITION IS INTACT.."Q4 WAS AN EXTRAORDINARY, UNUSUALLY TURBULENT, AND DISAPPOINTING QUARTER".NVIDIA - IN GAMING DURING Q4, DETERIORATING MACROECONOMIC CONDITIONS, PARTICULARLY IN CHINA, IMPACTED CONSUMER DEMAND FOR NVIDIA GAMING GPUS.SALES OF CERTAIN HIGH-END GPUS USING NVIDIA'S NEW TURING ARCHITECTURE WERE LOWER THAN EXPECTED IN Q4.Q4 REVENUE VIEW $2.70 BILLION -- REFINITIV IBES DATA.NVIDIA - IN DATACENTER, A NUMBER OF DEALS IN CO'S FORECAST DID NOT CLOSE IN LAST MONTH OF QUARTER AS CUSTOMERS SHIFTED TO A MORE CAUTIOUS APPROACH.SEES Q4 GAAP GROSS MARGIN OF 55.0 PCT, PLUS OR MINUS 100 BPS.SEES Q4 NON-GAAP GROSS MARGIN 56.0 PCT, PLUS OR MINUS 100 BPS.