NVIDIA Revenues for Q4 Significantly Lower Than Expected

Graphics maker NVIDIA has issued a brief statement today, informing us that its revenue for the forth quarter of 2008 which ends on January 29, 2009 has significantly dropped. Back in November of last year Jen-Hsun Huang, CEO of NVIDIA, said in a conference call that he expected Q4 revenues to be down around five percent, but those digits won't look right when the official report appears, because the real decline is far greater at 40 to 50 percent. NVIDIA's response of the situation:

as a result of further weakness in end-user demand and inventory reductions by NVIDIA's channel partners in the global PC supply chain.

NVIDIA added that there would be no further comment until the Q4 earnings announcement on 10th February.