Nvidia posts massive Q4 loss
THINGS ARE apparently "difficult and uncertain" for Nvidia at the moment, with the firm posting a massive loss for the fiscal fourth quarter, as the company's shares took a 60 per cent plunge.
Nvidia reported a Q4 loss of $147.7 million, or 27 cents a share, compared to net income in the same quarter last year of $257 million, or 42 cents a share.
Nvidia's revenues were looking sickly too, falling from $1.20 billion last year to just $481 million. The Green Goblin attempted to save a bit of face by pointing out that, excluding charges and one-time items, it would only have posted a loss of $94.4 million, translating to 18 cents a share. Wall Street analysts had been predicting the firm would lose 12 cents a share on $587 million revenue.
"The environment is clearly difficult and uncertain" noted Nvidia's CEO Jen-Hsun Huang, adding "Our first priority is to set an operating expense level that balances cash conservation while allowing us to continue to invest in initiatives that are of great importance to the market and in which we believe we have industry leadership".
Shareholders didn't seem to be putting much stock into Jensen's optimism though. In after-hours trading, Nvidia shares fell 5.8 per cent to $8.78.
Nvidia is predicting that it will report a flat first quarter, whilst analysts expect the green goblin to lose 10 cents a share, excluding one-time charges, on sales of $567 million. µ
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like DELL, HP, Acer etc. Not that Nvidia care about the little guy either. Then Jen bloke is a bit of bullshitter, people don't like listening to bullshitters for too long, especially when they don't deliver. I reckon he will be gone within 12 months.
"... as the company's shares took a 60 per cent plunge."
"... Nvidia shares fell 5.8 per cent... "
Is it 60 or 5.8? These numbers are very different.
Mate you must differentiate between Operating profit and Net Income. I usually consider NOPLAT, as a proper operating performance measure. If you consider net income only, your analysis is subject to many no operating income/expenses and manipulation.
I am not sure how you got a 60% plunge. Checking the company stock on finance.google.com shows a current drop of 14% between yesterday and current trading price, and it is sitting at a 24 week low.
It is clear in the article. 60% drop last 4Q. 5.8% drop since nVidia announced the 4Q report.
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