Nvidia Earnings: NVDA Stock Heads 6% Higher on Strong Q4 Results

Nvidia (NASDAQ:NVDA) earnings for the computer part company’s fiscal fourth quarter of 2020 have NVDA stock on the rise after markets closed Thursday. This comes after reporting adjusted per-share earnings of $1.89 on revenue of $3.11 billion. These are both above Wall Street’s estimates of $1.67 per share and revenue of $2.97 billion.

Nvidia Earnings: NVDA Stock Heads 6% Higher on Strong Q4 Results

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Let’s take a more in-depth look at the most recent Nvidia earnings report.

  • Adjusted earnings per share (EPS) is up 136.25% from the 80 cents during the fiscal fourth quarter for 2019.
  • Revenue for the quarter climbs 40.72% higher from the $2.21 billion during the same period of the year prior.
  • Operating income of $990 million is a 236.74% increase year-over-year from $294 million.
  • The Nvidia earnings report also contains a net income of $950 million.
  • This is a 67.55% boost from the company’s net income of $567 million from the same time last year.

Jensen Huang, founder and CEO of Nvidia, had this to say about the Q4 NVDA stock earnings report:

“Adoption of Nvidia accelerated computing drove excellent results, with record data center revenue. Our initiatives are achieving great success.”

The Nvidia earnings report also included an update of its fiscal Q1 2021 outlook. It is lowering its revenue estimates by $100 million to a new range of $3.00 billion, plus or minus 2%. The reason for this change is possible headwinds due to the coronavirus from China. Wall Street’s estimate is for revenue of $2.85 billion during the period.

NVDA stock closed the day slightly down, but is currently up more than 6% after market 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/2020/02/nvidia-earnings-send-nvda-stock-higher/.

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