Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Nvidia Tops Earnings in Q4 on 'Record' Data Center Revenue

Published 13/02/2020, 22:22
© Reuters.  NVIDIA Earnings, Revenue Beat in Q4
US500
-
NVDA
-

Investing.com - Nvidia reported fourth-quarter results on Thursday that beat analysts' forecasts, with the chipmaker hailing "record" data center revenue amid a rebound in demand.

Shares rose 6% postmarket.

Nvidia announced earnings per share of $1.89 on revenue of $3.11 billion. Analysts polled by Investing.com anticipated EPS of $1.66 on revenue of $2.96 billion.

That compared with an EPS of $0.92 on revenue of $2.21 billion in the same period a year before. Nvidia (NASDAQ:NVDA) had reported EPS of $1.78 on revenue of $3.01 billion in the previous quarter.

The beat on the top and bottom lines comes as data center sales rose to a record thanks a rebound in demand on easing concerns about a slowdown in the global economy.

“Adoption of NVIDIA accelerated computing drove excellent results, with record data center revenue,” said Jensen Huang, founder and CEO. “Our initiatives are achieving great success."

Looking ahead, Nvidia guided first-quarter revenue of $3 billion, give or take 2%, compared consensus estimates from Investing.com for revenue of $2.85 billion. That included an esimated reduction of about $100 million due to the impact from Covid-19.

Nvidia shares are up 15% from the beginning of the year, still down 0.99% from its 52 week high of $273.48 set on February 13. They are outperforming the S&P 500 which is up 4% year to date.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.