Nvidia said the rapid spread of the deadly coronavirus is likely to have a serious impact on its Q1 revenue. Specifically, it said it expects Q1 revenue of $3 billion, plus or minus two percent from market estimates of $2.85 billion. Nvidia CEO Jensen Huangreleased a data center revenue report and noted strong adoption of its “accelerated” computing products.
Nvidia beat estimates for its Q4 financial results, but the GPU is forecasting a decline in the company's revenue for the current quarter due to uncertainty created by the Coronavirus.
The Santa Clara, Calif.-based company reported net income of $950 million, or $1.53 per share. Non-GAAP earnings were $1.89 per share on revenue of $3.11 billion, up 41% year over year.
Wall Street was looking for earnings of $1.67 per share on revenue of $2.97 billion. For the year, Nvidia reported EPS of $4.52 on revenue of $10.9 billion, down 7% from $11.72 billion a year earlier. Analysts had expected EPS of $5.58 on revenue of $10.78 billion.
According to Jensen Huang, NVIDIA AI is enabling innovations in language understanding, mobile AI , and recommendation engines—the core algorithms that power the internet today. In addition, NVIDIA’s new computing applications in 5G, genomics, robotics, and autonomous vehicles enable the company’s people to continue the important, high-impact work and to be able to invent and introduce the biggest technology trends of the day.
Nvidia's GPU business revenue topped $2.77 billion, up 40% year-over-year. Gaming revenue was $1.4 billion, data center revenue was $968 million, up 43% year-over-year, and professional imaging revenue was $331 million.
