Nvidia Corporation (NVDA - Free Report) just released its latest quarterly financial results, posting non-GAAP earnings of $2.05 per share and revenues of $3.21 billion.
Currently, NVDA is a Zacks Rank #3 (Hold), but that could change based on today’s results. Shares of the company have gained about 13% over the past month, including a 1.7% gain during regular trading hours today.
The stock is currently down 2.2% to $254.63 per share in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company posted adjusted earnings of $2.05 per share, crushing the Zacks Consensus Estimate of $1.65. Investors should note that this consensus projection has remained flat over the duration of the quarter. Non-GAAP earnings per diluted share improved 141% year over year.
Beat revenue estimates. The company saw revenue figures of $3.2 billion, topping our consensus estimate of $2.91 billion. Total revenue gained 66% from the year-ago period.
Gaming revenue increased 68% to touch $1.72 billion. Datacenter revenue surged 71% to reach a quarterly record of $701 million. Professional Visualization and Automotive revenues gained 22% and 4%, respectively.
“We had a strong quarter with growth across every platform,” said Jensen Huang. Our datacenter business achieved another record and gaming remained strong.”
Nvidia said it returned $746 million to shareholders during the quarter through a combination of $655 million in share repurchases and $91 million in quarterly cash dividends. It expects to return a total of $1.25 billion in fiscal 2019.
Nvidia said it expects revenue for the second quarter of fiscal 2019 to be $3.10 billion, plus or minus 2%. Prior to the report, our consensus estimate was calling for Q2 revenue to be $2.97 billion.
Here’s a graph that looks at Nvidia’s recent earnings performance:
Nvidia Corporation is a worldwide leader in graphics processors and media communications devices. The company designs graphics processing units for the gaming, professional, and cryptocurrency markets, as well as system on a chip units for the mobile computing and automotive markets. Nvidia has shifted toward a platform-based model, with focuses on gaming, professional visualization, datacenters, and auto.
Check back later for our full analysis on NVDA’s earnings report!
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