NVIDIA - Team green goes in the Red
NVIDIA, team green went into the red this quarter. In the three month period ending on July 27 Nvidia has seen its revenue reach $892.7 million, some 5% lower than the $935.3 million of Q2 of FY 2008 with the worst thing reported being the net loss of $120.9 million or $0.22 per share.
In Q2 of FY 2009 Nvidia not only faced a stronger opposition in the GPU market, but it also had to deal with a $196 million write-off to fix and handle the problems brought on by an issue with its G84 and G86-powered mobile chips.
"Our Q2 financial performance was disappointing. The desktop PC market around the world weakened during the quarter. And our miscalculation of competitive price position further pressured our desktop GPU business. We have a great product line-up and, having taken the necessary pricing actions, we are strongly positioned again. Our focus now is to drive cost improvements and to further enhance our competitiveness through the many exciting initiatives we have planned for the rest of the year," said Jen-Hsun Huang, president and CEO of NVIDIA. "In contrast, the rest of our businesses did not exhibit the same dynamics as our desktop business. The notebook GPU, MCP, and Professional Solutions groups grew a combined 27 percent year-over year."
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