Nvidia shares plummet after announcing financial results

Ceny akcji Nvidii spadły o 17% po ogłoszeniu wyników finansowych

For some time now, we have seen that virtually every announcement of financial results causes sudden drops in stock prices on the stock exchange. This is also the case today with Nvidia stock, which continues to decline after lower-than-expected earnings disclosure.

In the third fiscal quarter of 2019, the company can boast 21% more revenue ($ 3.181 billion) over the same period last year and 2% more than the previous quarter. On the profit side, we have $ 1.23 billion, which is 392 million more than in the previous year. So what is wrong with Nvidia’s stock plummeting $ 35.65 per share, or just over 17%? Two main issues may have contributed to this. One of them is the decline in gross margin (quarter-on-quarter) by 2.9% and the constantly growing operating expenses that do not translate into revenues.

The second is the disappointment of Gaming revenue. This one brought in $ 1.764 billion, but again this is less than in the previous quarter and much less than the speculation that analysts went for. The reason for this is a decline in demand for cards powered by the old Pascal architecture, which is said to be plentiful in warehouses. Even the premiere of the new GeForce RTX did not turn out to be a salvation, which should not be a big surprise for us, because the HEDT segment is not selling as well as the average one. The development of these technologies, brought by Turing, also adds its three cents to this. Nvidia, however, has seen a significant improvement in the remaining departments (professional, data centers, and cars).

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Source: Venturebeat

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