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Another first-quarter revenue report, and another loss, this one from Nvidia. According to the report, the GPU chip maker's revenue slid 42 percent from last year, posting a net loss of $201.3 million, or 37 cents per share. That's a big change over last year when Nvidia posted a profit to the tune of $176.8 million, or 30 cents per share.
But hey, it seems everyone's numbers are down, and for Nvidia, analysts were anticipating worse numbers. While Nvidia's revenue of $664.2 million is a far cry from the $1.15 billion it posted last year, Wall Street had Nvidia pegged at $534.4 million, undershooting by $130 million.
To help cope with the recession, Nvidia has begun cutting back on its inventory, a method which seems to be working so far. Inventory was scaled back from 144 to 64 days sequentially, CNet reports, and revenue grew 38 percent sequentially from last quarter.
"We made good progress managing expenses and significantly reducing inventory," said Jen-Hsun Huang, CEO of Nvidia.
Image Credit: Nvidia