For the quarter that ended in December, Nvidia posted earnings better than consensus
The company reported an adjusted EPS of $3.10, topping the $2.81 expected. Revenue wise, the actual numbers came ahead of the $4.82 billion forecasted at $5.00 billion.
Nvidia’s automotive business did not perform as expected, reporting a contraction of 11% to $145 million. For the entire year, it was down 23%.
On the other hand, Computer & Networking, and Graphics businesses were the stars of the quarter. The former reported a 91% increase year-over-year, while the latter was up 47%.
The report came after this week, Nvidia announced new graphics cards that can be used for mining crypto. They can also be used by people who want to play graphically-intense games. According to Jensen Huang, Nvidia CEO, the cards will hit the shelves this March.
Nvidia expects revenues of $5.3 billion for the current quarter, passing the $4.51 billion expected by analysts.
After the report, Nvidia stock price gained 1%. In the past year, Nvidia rose 106%.
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Sources: reuters.com, cnbc.com
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