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Nvidia Soars 13% on Record Q3 Earnings, Revenue, Margins
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Nvidia Corp. (NVDA - Free Report) just released its third quarter fiscal 2017 financial results after the bell, posting GAAP earnings of 83 cents per share and revenues of $2.00 billion. NVDA is a #1 (Strong Buy), and is up 13% to 76.59 per share in after-hours trading.
Beat earnings estimates. The company reported GAAP earnings of 83 cents per share, soaring past the Zacks Consensus Estimate of 57 cents per share and rising a whopping 89% year-over-year.
Beat revenue estimates. The company saw revenues figures of $2.00 billion, surpassing our consensus estimate of $1.681 billion and increasing 54% year-over-year.
The company reported record GAAP gross margin at 59% and non-GAAP gross margin at 59.2%.
In Q3, Nvidia announced that its NVIDIA gaming technology will power the Nintendo Switch home gaming system. It also introduced GeForce GTX 1080, 1070, and 1060 for notebooks, which gives gamers a state-of-the-art gaming platform.
Looking ahead to Q4, revenue is expected to be $2.10 billion, plus or minus 2%. GAAP and non-GAAP gross margins are expected to be 59% and 59.2%, respectively, plus or minus 50 basis points.
"We had a breakout quarter - record revenue, record margins and record earnings were driven by strength across all product lines," said Jen-Hsun Huang, founder and chief executive officer, NVIDIA. "Our new Pascal GPUs are fully ramped and enjoying great success in gaming, VR, self-driving cars and datacenter AI computing.”
Here’s a graph that looks at Nvidia’s price, consensus, and EPS surprise:
Nvidia 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.
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Nvidia Soars 13% on Record Q3 Earnings, Revenue, Margins
Nvidia Corp. (NVDA - Free Report) just released its third quarter fiscal 2017 financial results after the bell, posting GAAP earnings of 83 cents per share and revenues of $2.00 billion. NVDA is a #1 (Strong Buy), and is up 13% to 76.59 per share in after-hours trading.
Beat earnings estimates. The company reported GAAP earnings of 83 cents per share, soaring past the Zacks Consensus Estimate of 57 cents per share and rising a whopping 89% year-over-year.
Beat revenue estimates. The company saw revenues figures of $2.00 billion, surpassing our consensus estimate of $1.681 billion and increasing 54% year-over-year.
The company reported record GAAP gross margin at 59% and non-GAAP gross margin at 59.2%.
In Q3, Nvidia announced that its NVIDIA gaming technology will power the Nintendo Switch home gaming system. It also introduced GeForce GTX 1080, 1070, and 1060 for notebooks, which gives gamers a state-of-the-art gaming platform.
Looking ahead to Q4, revenue is expected to be $2.10 billion, plus or minus 2%. GAAP and non-GAAP gross margins are expected to be 59% and 59.2%, respectively, plus or minus 50 basis points.
"We had a breakout quarter - record revenue, record margins and record earnings were driven by strength across all product lines," said Jen-Hsun Huang, founder and chief executive officer, NVIDIA. "Our new Pascal GPUs are fully ramped and enjoying great success in gaming, VR, self-driving cars and datacenter AI computing.”
Here’s a graph that looks at Nvidia’s price, consensus, and EPS surprise:
NVIDIA CORP Price, Consensus and EPS Surprise
NVIDIA CORP Price, Consensus and EPS Surprise | NVIDIA CORP Quote
Nvidia 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.
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now >>