Nvidia Trades Higher After Big Q4 Earnings Beat
Nvidia (NASDAQ: NVDA) reported adjusted fourth-quarter earnings of $1.89 per share on Thursday, which beat the analyst consensus estimate of $1.66 by 13.86%. This is a 136.25% increase over earnings of 80 cents per share from the same period last year.
The company reported quarterly sales of $3.105 billion, which beat the analyst consensus estimate of $2.96 billion by 4.90%. This is a 40.82% increase over sales of $2.205 billion the same period last year.
"Nvidia RTX ray tracing is reinventing computer graphics, driving powerful adoption across gaming, VR and design markets, while opening new opportunities in rendering and cloud gaming,” said Jensen Huang, founder and CEO of Nvidia. "Nvidia AI is enabling breakthroughs in language understanding, conversational AI and recommendation engines ― the core algorithms that power the internet today. And new NVIDIA computing applications in 5G, genomics, robotics and autonomous vehicles enable us to continue important work that has a great impact."
Nvidia's stock traded higher by 7.3% to $290.75 per share at time of publication. The stock has a 52-week range between $273.48 and $132.60.
Nvidia Analysts Raise Price Targets Ahead Of Q4 Print
Sony, Nvidia, Uber Introduce Electric, Autonomous Auto Concepts At CES
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.