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Nvidia (NVDA) Stock Up 12% on Q1 Earnings and Revenue Beats
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NVIDIA Corporation (NVDA - Free Report) just released its first-quarter fiscal 2018 financial results, posting earnings of $0.82 per share and revenues of $1.94 billion.
Currently, NVDA is a Zacks Rank #3 (Hold), but this ranking could change based on today’s results. The stock is up 12.48% to $115.79 per share in trading shortly after its earnings report was released.
Nvidia:
Beat earnings estimates. The company posted earnings of $0.82 per share (excluding $0.03 from non-recurring items), beating the Zacks Consensus Estimate of $0.66.
Beat revenue estimates. The company saw revenue figures of $1.94 billion, topping our consensus estimate of $1.91 billion.
Nvidia first-quarter 2018 revenues were up 48% year-over-year.
The Santa Clara, California-based company’s GAAP EPS was up 126% sequentially. Nvidia grew across all of its business sectors, but its gaming and datacenter segments made some noise in the quarter.
Nvidia announced its new GeForce® GTX 1080 Ti, which it calls “the world's fastest gaming GPU.” The company also introduced its Tesla accelerators that were designed to improve AI in datacenters. The accelerators were added to Google Cloud, IBM Cloud, and more.
The company paid $82 million in cash dividends in the first quarter. Nvidia plans to return $1.25 billion to shareholders in full-year 2018 through quarterly cash dividends and share repurchases.
Nvidia expects revenues of $1.95 billion, plus or minus 2%, in its second quarter.
"The AI revolution is moving fast and continuing to accelerate," NVIDIA founder and CEO Jensen Huang said in a press release. "NVIDIA's GPU deep learning platform is the instrument of choice for researchers, internet giants and startups as they invent the future.”
"Our Datacenter GPU computing business nearly tripled from last year, as more of the world's computer scientists engage deep learning. One industry after another is awakening to the power of GPU deep learning and AI, the most important technology force of our time," he said.
Here’s a graph that looks at Nvidia’s Price, Consensus and EPS Surprise history:
NVIDIA Corporation Price, Consensus and EPS Surprise
NVIDIA Corporation designs, develops and markets a top-to-bottom family of award-winning 3D graphics processors, graphics processing units and related software that set the standard for performance, quality and features for every type of desktop personal computer user, from professional workstations to low-cost computers. NVIDIA Corporation's 3D graphics processors are used in a wide variety of applications, including games, the Internet and industrial design.
Check back later for our full analysis on NVDA’s earnings report!
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
Image: Bigstock
Nvidia (NVDA) Stock Up 12% on Q1 Earnings and Revenue Beats
NVIDIA Corporation (NVDA - Free Report) just released its first-quarter fiscal 2018 financial results, posting earnings of $0.82 per share and revenues of $1.94 billion.
Currently, NVDA is a Zacks Rank #3 (Hold), but this ranking could change based on today’s results. The stock is up 12.48% to $115.79 per share in trading shortly after its earnings report was released.
Nvidia:
Beat earnings estimates. The company posted earnings of $0.82 per share (excluding $0.03 from non-recurring items), beating the Zacks Consensus Estimate of $0.66.
Beat revenue estimates. The company saw revenue figures of $1.94 billion, topping our consensus estimate of $1.91 billion.
Nvidia first-quarter 2018 revenues were up 48% year-over-year.
The Santa Clara, California-based company’s GAAP EPS was up 126% sequentially. Nvidia grew across all of its business sectors, but its gaming and datacenter segments made some noise in the quarter.
Nvidia announced its new GeForce® GTX 1080 Ti, which it calls “the world's fastest gaming GPU.” The company also introduced its Tesla accelerators that were designed to improve AI in datacenters. The accelerators were added to Google Cloud, IBM Cloud, and more.
The company paid $82 million in cash dividends in the first quarter. Nvidia plans to return $1.25 billion to shareholders in full-year 2018 through quarterly cash dividends and share repurchases.
Nvidia expects revenues of $1.95 billion, plus or minus 2%, in its second quarter.
"The AI revolution is moving fast and continuing to accelerate," NVIDIA founder and CEO Jensen Huang said in a press release. "NVIDIA's GPU deep learning platform is the instrument of choice for researchers, internet giants and startups as they invent the future.”
"Our Datacenter GPU computing business nearly tripled from last year, as more of the world's computer scientists engage deep learning. One industry after another is awakening to the power of GPU deep learning and AI, the most important technology force of our time," he said.
Here’s a graph that looks at Nvidia’s Price, Consensus and EPS Surprise history:
NVIDIA Corporation Price, Consensus and EPS Surprise
NVIDIA Corporation Price, Consensus and EPS Surprise | NVIDIA Corporation Quote
NVIDIA Corporation designs, develops and markets a top-to-bottom family of award-winning 3D graphics processors, graphics processing units and related software that set the standard for performance, quality and features for every type of desktop personal computer user, from professional workstations to low-cost computers. NVIDIA Corporation's 3D graphics processors are used in a wide variety of applications, including games, the Internet and industrial design.
Check back later for our full analysis on NVDA’s earnings report!
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
One has driven from 0 to a $68 billion valuation in 8 years. Four others are a little less obvious but already show jaw-dropping growth. Download this IPO Watch List today for free >>