Nvidia forecasts revenue above estimates despite $100 million coronavirus hit

13 Feb by Vitaliy Dadalyan

Nvidia forecasts revenue above estimates despite $100 million coronavirus hit

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Nvidia forecasts revenue above estimates despite $100 million coronavirus hitThe company, which reinforced expectations of a rebound in chip demand, is the second chipmaker after Qualcomm Inc to warn about a potential impact on its businesses due to the outbreak. The Santa Clara, California-based company said it expects current-quarter revenue of $3 billion, plus or minus 2%, the midpoint of which is above analysts’ expectation of $2.86 billion, according to IBES data from Refinitiv. Revenue from Nvidia’s closely watched data center chips business rose 42.6% to $968 million in the fourth quarter, beating analysts’ estimate of $829 million, according to research firm FactSet.