Nvidia Delivers Upbeat Outlook After Results Beat in Q4; Shares Climb



© Reuters.

By Yasin Ebrahim

Investing.com – Nvidia (NASDAQ:) reported on Wednesday fourth quarter that beat topped expectations as strong demand in its data center and gaming businesses continued.

Nvidia shares gained 3% in after-hours trade following the report.

Nvidia announced earnings per share of $3.1 on revenue of $5 billion. Analysts polled by Investing.com anticipated EPS of $2.8 on revenue of $4.82 billion.

The data center business grew 97% to a record $1.90 billion for the quarter year-on-year, driven by its Mellanox (NASDAQ:) acquisition and the ramp of its ampere GPU architecture. In fiscal 2021, Mellanox revenue contributed 10% of total revenue.

Its gaming division generated second-quarter revenue of $1.65 billion, up 67% from the previous quarter and up 26% from a year earlier.

“Our gaming and data center market platforms have benefited from stronger demand as people continue to work, learn, and play from home,” it said.

The company flagged bottlenecks throughout its supply chain as chip demand continues to outpace supply. “Throughout our supply chain, stronger demand globally has limited the availability of capacity and components, particularly in gaming.”

Looking ahead top to the fiscal first quarter, revenue is expected to be $5.30 billion, give or take 2%, compared with consensus estimate for $4.53 billion.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

READ  Nissan's China sales drop 44.9% in March due to virus

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here