The company said about $570 million of the charge is for inventory on hand and about $650 million of it is for inventory purchase obligations “in excess of our current demand projections.” Nvidia also booked a $1.22 billion inventory charge for data-center and gaming products, given its revised expectations. “And putting that together caused some disruption in our logistics and distribution.” “Our supply arrived a little bit late in the quarter for some of our key products that we needed to get out,” Kress told analysts. “We are navigating our supply-chain transitions in a challenging macro environment and we will get through this,” Jensen Huang, Nvidia’s founder and chief executive, said in a statement, before the company addressed inventory issues. Throughout the call, Nvidia executives stressed that supply-chain problems, and not demand, were the main culprits lowering the outlook. In its recent earnings report, AMD forecast third-quarter sales of $6.5 billion to $6.9 billion. That puts Nvidia on track to report quarterly sales below that of Advanced Micro Devices Inc.įor the first time since the third quarter of 2014. “We expect that decline to be partially offset by sequential growth in automotive.” “We expect gaming and pro visualization revenue to decline sequentially and OEM and channel partners reduce inventory levels to line with current levels of demand and prepare for our new products generation,” Colette Kress, Nvidia’s chief financial officer, told analysts on a conference call.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |