NVIDIA Earnings: Here’s Why Shares are Up Now
NVIDIA Corporation (NASDAQ:NVDA) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.01%.
NVIDIA Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 15.79% to $0.16 in the quarter versus EPS of $0.19 in the year-earlier quarter.
Revenue: Decreased 6.42% to $977.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: NVIDIA Corporation reported adjusted EPS income of $0.16 per share. By that measure, the company beat the mean analyst estimate of $0.13. It beat the average revenue estimate of $976.43 million.
Quoting Management: “The GPU business continued to grow, driving our fourth consecutive quarter of record margins,” said Jen-Hsun Huang, president and chief executive officer of NVIDIA. “We also began shipping GRID virtualized graphics, which puts the power of NVIDIA GPUs into the datacenter. We look forward to a strong second half, with new Tegra 4 devices coming to market, SHIELD moving beyond the U.S. and broader sampling of Project Logan, our next-generation Tegra processor, which brings Kepler, the world’s most advanced GPU, to mobile.”
Key Stats (on next page)…