Nvidia forecasts revenue above estimates despite $100 million coronavirus hit

The 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. …read more

Source:: Yahoo Finance