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Nvidia Score Q1 2020



Jensen Huang, CEO of Nvidia Corp.

David Paul Morris | Bloomberg | Getty Images

Chipmaker Nvidia will release a profit report for the first quarter of fiscal 2020 after the close on Thursday.

Here are the numbers you should look at:

  • Result: Excluding specific positions, 81 cents per share, as analysts expected, according to Refinitiv.
  • Turnover: 2.20 billion USD, as expected by analysts, according to Refinitiv.

According to analysts, Nvidia's revenue for the quarter ended April 28th dropped to a second consecutive period ̵

1; this time a 31.5% decline – due to excess inventories.

Kevin Cassidy of Stifel reported in a report on Monday that Nvidia has probably balanced out the channel inventories for its graphics processors for games during the quarter. Cassidy said that Nvidia's gaming division sales will decrease by 14% for the full fiscal year 2020 "due to a challenging start to the year and increased competitive pressure".

In terms of forecasts, analysts surveyed by Refinitive expect Nvidia expects sales of $ 2.54 billion for the second quarter, down nearly 19%.

Nvidia's shares have risen 20% since the beginning of the year, but are still 45% above their record highs in October.

In March, Nvidia announced its intention to buy the Israeli network hardware company Mellanox for nearly $ 7 billion to boost the data center business. Executives will discuss the results with analysts at a teleconference at 5 pm: 30 pm Eastern time.

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WATCH: Nvidia CEO Jensen Huang on the acquisition of Mellanox


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