Graphics specialist Nvidia has reported a $120.9 million net loss for the second quarter of fiscal 2009, ending on July 27th 2008.The firm generated $892.7 million for the quarter compared with revenues of $935.8 million for the same time in the previous year, a decrease of five per cent.
Much of the damage came from the $196 million it was forced to spend on warranty, repair and returns of “significant quantities” of failing chipsets.
Pricing issues and a decline in desktop demand were also blamed for the loss.
“Our Q2 financial performance was disappointing. The desktop PC market around the world weakened during the quarter. And our miscalculation of competitive price position further pressured our desktop GPU business,” said Jen-Hsun Huang, president and CEO of Nvidia.
“In contrast, the rest of our businesses did not exhibit the same dynamics as our desktop business. The notebook GPU, MCP, and Professional Solutions groups grew a combined 27 percent year-over year.”
Advertisement
Related Stories
- CES 2012: Nvidia hails deluge of Tegra 3-powered tablets Jan 12th 2012 at 5:50AM
- Mid-range video cards tested in Skyrim Nov 23rd 2011 at 6:03AM
- Video: Nvidia Tegra 3 released Nov 10th 2011 at 1:14PM
- Olympus admits covering up losses Nov 8th 2011 at 11:09AM
- Nvidia releases GeForce 285.62 final drivers Oct 25th 2011 at 12:15AM
- IDC: PC market contracted in Q3 Oct 20th 2011 at 10:59AM
- Nvidia launches 3D Vision 2 upgrade Oct 16th 2011 at 9:17PM
- Nvidia to power world's fastest supercomputer Oct 12th 2011 at 12:28AM
- Nvidia comes top in Battlefield 3 beta benchmarks Sep 29th 2011 at 8:09AM
- Nvidia reveal Kal-El mobile chip has five cores Sep 21st 2011 at 8:02AM
Follow Follow this article if you would like to receive notifications of updates.
Add a new comment
You need to be logged in to post comments. If you do not have an account then please register.
Comments
0 comments
There are no comments yet, be the first to add one!