2019-02-14

Nvidia $NVDA Q4 FY19 Earnings LIVE Webcast Feb 14, 5:30 pm EST

Nvidia Q4 FY19 Earnings LIVE Webcast Feb 14, 5:30 pm EST

Analysts expect Nvidia (NASDAQ: NVDA) (nvidia.com) to report revenue of $2.29B for the quarter, down from the early forecast for $3.42B. Gaming revenue is anticipated to fall by 41% Y/Y to $1.02B.

UPDATE: Q4 FY19 earnings release (Feb 14, 2019) excerpt:
NVIDIA today reported revenue for the fourth quarter ended Jan. 27, 2019, of $2.21 billion, down 24 percent from $2.91 billion a year earlier, and down 31 percent from $3.18 billion in the previous quarter. GAAP earnings per diluted share for the quarter were $0.92, down 48 percent from $1.78 a year ago and down 53 percent from $1.97 in the previous quarter. Non-GAAP earnings per diluted share were $0.80, down 53 percent from $1.72 a year earlier and down 57 percent from $1.84 in the previous quarter. For fiscal 2019, revenue was $11.72 billion, up 21 percent from $9.71 billion a year earlier. GAAP earnings per diluted share were $6.63, up 38 percent from $4.82 a year earlier. Non-GAAP earnings per diluted share were $6.64, up 35 percent from $4.92 a year earlier.
Letter to Shareholders (pdf); Press Release January 28, 2019, excerpts:
NVIDIA Updates Financial Guidance for Fourth Quarter of Fiscal Year 2019
  • Fourth quarter revenue expected to be $2.20 billion versus previous guidance of $2.70 billion
  • Gaming and Datacenter revenue below company’s expectations
  • Management to discuss reported financial results on Feb. 14 earnings call
In Gaming, NVIDIA’s previous fourth-quarter guidance had embedded a sequential decline due to excess mid-range channel inventory following the crypto-currency boom. The reduction in that inventory and its impact on the business have proceeded largely inline with management’s expectations. However, deteriorating macroeconomic conditions, particularly in China, impacted consumer demand for NVIDIA gaming GPUs.  In addition, sales of certain high-end GPUs using NVIDIA’s new Turing™ architecture were lower than expected.  These products deliver a revolutionary leap in performance and innovation with real-time ray tracing and AI, but some customers may have delayed their purchase while waiting for lower price points and further demonstrations of RTX technology in actual games.
In Datacenter, revenue also came in short of expectations. A number of deals in the company’s forecast did not close in the last month of the quarter as customers shifted to a more cautious approach. Despite these near-term headwinds, NVIDIA has a large and expanding addressable market opportunity in AI and high performance computing, and the company believes its competitive position is intact.
Corporate profile: "NVIDIA is the pioneer of GPU-accelerated computing. We specialize in products and platforms for the large, growing markets of gaming, professional visualization, data center, and automotive. Our creations are loved by the most demanding computer users in the world – gamers, designers, and scientists. And our work is at the center of the most consequential mega-trends in technology." 


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