Nvidia (NASDAQ:NVDA) earnings were posted late in the day on Thursday and the company impressed investors with an adjusted profit and revenue beat, helping to lift NVDA stock by more than 8% after hours.
The Santa Clara, Ca.-based company said that for its fourth quarter of fiscal 2018, it brought in adjusted earnings of 80 cents per share, coming in ahead of the 75 cents per share that Wall Street projected, according to Refinitiv. The computer game company also amassed revenue of $2.21 billion, which declined 24% year-over-year but topped analysts’ guidance by $10 million, per Refinitiv.
[Editor’s note: A previous version of this story mistakenly claimed that revenue grew year-over-year. It has since been edited.]
Nvidia reported that its gaming business segment finished the period with roughly $954 billion in sales, missing the $1.21 billion that the Refinitiv poll was forecasting. The company added that its Data Center business segment reeled in $679 million in revenue, below the $839 million that the Refinitiv guidance called for.
Its Professional Visualization segment revenue was $293 million, below the $314 million projection. Plus, its Automotive segment raked in $163 million in revenue, below the $181 million guidance, while revenue from original equipment manufacturers and intellectual property amounted to $116 million, below the $124 million estimate.
NVDA stock is soaring about 8.1% after the bell on Thursday following the company reporting its latest quarterly earnings results, which impressed on the most part. Shares had been gaining about 1.1% during regular trading hours today in anticipation of Nvidia reporting for the period.