cageymaru
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NVIDIA's announcement of better-than-expected earnings for Q4 2019 caused the stock to rise 8% in after hours trading. NVIDIA reported Q4 2019 revenue of $2.21 billion, down 24% from $2.91 billion a year earlier, and down 31% from $3.18 billion in the previous quarter. Analysts expected $2.20 billion in Q4 2019. NVIDIA reported record full-year revenue of $11.72 billion, up 21 percent from a year ago.
NVIDIA's gaming business generated $954 million in revenue, which was under the $1.21 billion that analysts predicted. The Data Center business segment made $679 million in revenue, which was far less than the $839 million consensus estimate from analysts polled by Refinitiv. Other misses included the Professional Visualization segment, Automotive segment, original equipment manufacturers and intellectual property. NVIDIA's outlook for the first quarter of fiscal 2020 includes revenue that is expected to be $2.20 billion, plus or minus 2%. NVIDIA says its fiscal 2020 revenue is expected to be flat to down slightly.
"This was a turbulent close to what had been a great year," said Jensen Huang, founder and CEO of NVIDIA. "The combination of post-crypto excess channel inventory and recent deteriorating end-market conditions drove a disappointing quarter. "Despite this setback, NVIDIA's fundamental position and the markets we serve are strong. The accelerated computing platform we pioneered is central to some of world's most important and fastest growing industries -- from artificial intelligence to autonomous vehicles to robotics. We fully expect to return to sustained growth," he said.
NVIDIA's gaming business generated $954 million in revenue, which was under the $1.21 billion that analysts predicted. The Data Center business segment made $679 million in revenue, which was far less than the $839 million consensus estimate from analysts polled by Refinitiv. Other misses included the Professional Visualization segment, Automotive segment, original equipment manufacturers and intellectual property. NVIDIA's outlook for the first quarter of fiscal 2020 includes revenue that is expected to be $2.20 billion, plus or minus 2%. NVIDIA says its fiscal 2020 revenue is expected to be flat to down slightly.
"This was a turbulent close to what had been a great year," said Jensen Huang, founder and CEO of NVIDIA. "The combination of post-crypto excess channel inventory and recent deteriorating end-market conditions drove a disappointing quarter. "Despite this setback, NVIDIA's fundamental position and the markets we serve are strong. The accelerated computing platform we pioneered is central to some of world's most important and fastest growing industries -- from artificial intelligence to autonomous vehicles to robotics. We fully expect to return to sustained growth," he said.