NVIDIA Lowers Financial Outlook For Q2 – Market Punishes NVDA
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NVIDIA 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. This has rocked NVIDIA on the stock market as the stock price is down nearly 10% today alone.
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.
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