Nvidia Corporation (NVDA) Q4 Earnings Top Estimates by 61 Cents/Share

Nvidia Corporation (NASDAQ:NVDA) impressed in its fourth-quarter earnings report as revenue and profit both topped analysts’ expectations.

Nvidia Corporation (NVDA)The tech company reported adjusted earnings of $1.78 per share during the period, topping the $1.17 per share that analysts polled by Thomson Reuters expected. Revenue gained 34% year-over-year, reaching $2.91 billion and beating the $2.69 billion that Wall Street projected, per Thomson Reuters.

Full-year revenue came in at $9.71 billion for Nvidia, a 41% gain compared to the year-ago quarter. The company impressed in various categories, including its gaming segment, which raked in $1.74 billion, coming in ahead of the $1.54 billion that analysts polled by FactSet called for in their outlook.

Nvidia’s Pascal-generation graphics processing units helped boost its gaming figures thanks to higher cryptocurrency demand. Its data center was also a strong metric in its fourth quarter, bringing in revenue of $606 million, topping the Wall Street consensus estimate of $552.1 million.

The company was hit with a charge of $133 million during its fourth quarter as a result of recent changes in the U.S. tax code. Nvidia predicts it will have a tax rate of 12% during its current quarter, plus or minus 1%.

For the first quarter of the current fiscal year, the company forecasts revenue of $2.9 billion, plus or minus 2%. The figure is strong than analysts’ expectations of $2.46 billion in revenue for Nvidia’s period.

NVDA stock soared 11.2% after the bell Thursday afternoon.


Article printed from InvestorPlace Media, https://investorplace.com/2018/02/nvidia-corporation-nvda-2/.

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