Nvidia’s announced a revenue drop for the 12 months ending January 25, down 16 percent to $3.4 billion, from $4.1 billion in the previous year.
The GPU manufacturer’s profit sank from from a $797.6 million for the period a year ago to a $30 million loss for the current fiscal year.
“The environment is clearly difficult and uncertain,” said CEO Jen-Hsun Huang.
“Our first priority is to set an operating expense level that balances cash conservation while allowing us to continue to invest in initiatives that are of great importance to the market and in which we believe we have industry leadership. We have initiatives in all areas to reduce operating expenses.”
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