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

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