Tech processing giant Nvidia (NVDA - Free Report) posted a mixed Q4 after the closing bell Thursday, putting up 80 cents per share on $2.21 billion in revenues, beating on the bottom line by 5 cents per share but missing the $2.37 billion in the Zacks consensus. Shares have rocketed up 9% upon the release, as Q1 guidance was higher than analysts were expecting.
You'll recall than Nvidia, like Apple (AAPL - Free Report) more than a month ago, warned about quarterly earnings results, at which time shares plummeted and so did earnings estimates. As a result, Nvidia had tumbled to a Zacks Rank #5 (Strong Sell) ahead of the Q4 report. Now that shares have outperformed the lower bar, late traders are in a buying mood again.
Gaming fetched $954 million in the quarter and Datacenter saw a tally of $679 million. The graphics processing units (GPU) the company makes had put the company in great demand back when Bitcoin threatened to take over the world, but as the cryptocurrency's fortunes fell, so did Nvidia's share price. At a forward P/E of 30+ times earnings, the company is still not exactly cheap.
CBS Corp. (CBS - Free Report) posted its first earnings miss in at least 5 full years, bringing in $1.50 per share that missed the Zacks consensus by 3 cents, on $4.02 billion in quarterly sales that fell short of the $4.16 billion analysts were looking for. Though the company trumpeted passing the 8 million mark in direct-to-consumer subscribers, 2 years ahead of schedule, shares are down more than 2% following the earnings release, which came out after accusations of insider selling of CBS shares immediately prior to long-time CEO Les Moonves stepping down due to sexual improprieties. For more on CBS' earnings, click here.
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