Fubotv earnings beat by $0.10, revenue topped estimates
Investing.com -- A representative from NVIDIA (NASDAQ: NASDAQ:NVDA) recently clarified the company’s revenue situation with regard to Singapore and China. The statement was issued to clear up confusion regarding the revenue associated with Singapore.
According to the spokesperson, the revenue from Singapore does not suggest a diversion to China. NVIDIA’s public filings report on the "bill to" locations of their customers, not the "ship to" locations. This implies that the company’s revenue figures are based on where their customers are billed, not where the products are ultimately shipped to.
The spokesperson further explained that many of NVIDIA’s customers have business entities in Singapore, which they use for products intended for the U.S. and the west. This practice is common among companies operating in multiple countries and does not necessarily indicate that the products are being shipped to Singapore.
NVIDIA emphasized that it insists its partners adhere to all relevant laws. The company stated that if it receives any information suggesting otherwise, it will take appropriate action.
This clarification comes in the wake of confusion regarding NVIDIA’s revenue associated with Singapore. The company’s statement aims to clear up any misconceptions and provide transparency about its revenue reporting practices.
Below is the entire statement from an NVIDIA spokesperson sent to Investing.com Wednesday:
"The revenue associated with Singapore does not indicate diversion to China. Our public filings report “bill to” not “ship to” locations of our customers. Many of our customers have business entities in Singapore and use those entities for products destined for the U.S. and the west. We insist that our partners comply with all applicable laws, and if we receive any information to the contrary, act accordingly."
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.