NVIDIA Provides Business Update for Second Quarter of 2011
Posted: Thu Jul 29, 2010 9:40 am
NVIDIA Provides Business Update for Second Quarter of Fiscal 2011
Company Lowers Financial Outlook for Second Quarter
Company Lowers Financial Outlook for Second Quarter
SANTA CLARA, CA -- (Marketwire) -- 07/28/2010 -- NVIDIA (NASDAQ: NVDA) today announced that it expects revenue for the second quarter ending Aug. 1, 2010, to be lower than the guidance provided with the company's financial results for its first quarter.
Total revenue is now estimated at $800 million to $820 million, compared with the range of $950 million to $970 million provided on May 13, 2010.
The revenue shortfall occurred primarily in the consumer GPU business, resulting from increased memory costs and economic weakness in Europe and China. The increased solution cost of discrete GPUs led to a greater-than-expected shift to lower-priced GPUs and PCs with integrated graphics.
No conference call will be held in conjunction with this business update. Additional commentary pertaining to the second quarter will be available when NVIDIA reports its second quarter financial results on Aug. 12, 2010.
About NVIDIA
NVIDIA (NASDAQ: NVDA) awakened the world to the power of computer graphics when it invented the GPU in 1999. Since then, it has consistently set new standards in visual computing with breathtaking, interactive graphics available on devices ranging from tablets and portable media players to notebooks and workstations. NVIDIA's expertise in programmable GPUs has led to breakthroughs in parallel processing which make supercomputing inexpensive and widely accessible. The company holds more than 1,100 U.S. patents, including ones covering designs and insights which are fundamental to modern computing. For more information, see www.nvidia.com.