Shares of the company fell by 15%.
- Nvidia announced that it will not be able to achieve the goal of 2.7 billion dollars in revenue for the fourth quarter of the 2019 fiscal year. New forecast – 2.2 billion.
- Shareholders of the company met the news very negatively. Nvidia for a few hours fell by 15%.
- One of the main reasons for the decline in revenue is the unsatisfactory sales of RTX video cards. Nvidia believes that players have decided to postpone the purchase of new boards until prices drop or the appearance of more games with support for reitressing.
- The company also complained about macroeconomic changes and problems in the Chinese market, because of which the smartphone manufacturers have recently shown negative dynamics.
- According to analysts, comparing Nvidia’s current figures with those of last year is incorrect due to the cryptocurrency boom, which has anomalously increased sales of video cards and almost disappeared. However, the company was unable to fulfill even the forecast, taking into account this decline.
- Nvidia’s financial report will be announced on February 14th.