Nvidia Earnings: NVDA Stock Gets Slight Bump from Q3 Report

Nvidia (NASDAQ:NVDA) earnings for the graphics card maker’s fiscal third quarter of 2020 have NVDA stock up in after-hours trading on Thursday. The company’s adjusted EPS comes in at $1.78 and revenue is $3.01 billion. For comparison, Wall Street was looking for earnings of $1.57 per share and revenue of $2.91 billion.

Nvidia Earnings: NVDA Stock Gets Slight Bump from Q3 Report

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Here’s what else is worth mentioning from the most recent Nvidia earnings report.

  • Adjusted per-share earnings are down 3.26% from the $1.84 reported in fiscal Q3 2019.
  • Revenue is 5.35% lower YoY compared to $3.18 billion.
  • The Nvidia earnings report also includes an operating income of $927 million.
  • This is a 12.55% drop from an operating income of $1.06 billion in the same period of the year prior.
  • Net income of $899 million is a 26.91% decrease from net income of $1.23 billion reported during the same time last year.

Jensen Huang, founder and CEO of Nvidia, has this to say about the NVDA stock earnings for fiscal Q3 2020.

“Our gaming business and demand from hyperscale customers powered Q3’s results. The realism of computer graphics is taking a giant leap forward with NVIDIA RTX.”

The Nvidia earnings report also contains its fiscal Q4 2020 outlook. It is expecting revenue to come within 2% above or below $2.95 billion. Wall Street is estimating revenue of $3.06 billion for the upcoming quarter.

NVDA stock was up slightly in after-hours trading on Thursday. The stock also finishes out the day up a little from its prior close.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2019/11/nvidia-earnings-bump-nvda-stock/.

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