NVIDIA (NVDA) Tops Q3 EPS by 37c; Guides Q4 Revenue Above Views

November 10, 2016 4:21 PM EST

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NVIDIA (NASDAQ: NVDA) reported Q3 EPS of $0.94, $0.37 better than the analyst estimate of $0.57. Revenue for the quarter came in at $2 billion versus the consensus estimate of $1.69 billion.

"We had a breakout quarter - record revenue, record margins and record earnings were driven by strength across all product lines," said Jen-Hsun Huang, founder and chief executive officer, NVIDIA. "Our new Pascal GPUs are fully ramped and enjoying great success in gaming, VR, self-driving cars and datacenter AI computing.

"We have invested years of work and billions of dollars to advance deep learning. Our GPU deep learning platform runs every AI framework, and is available in cloud services from Amazon, IBM, Microsoft and Alibaba, and in servers from every OEM. GPU deep learning has sparked a wave of innovations that will usher in the next era of computing," he said.

Capital Return During the first nine months of fiscal 2017, NVIDIA paid $509 million in share repurchases and $185 million in cash dividends. As a result, the company has returned an aggregate of $694 million to shareholders in the first nine months of the fiscal year. The company intends to return $1.0 billion to shareholders in fiscal 2017.

For fiscal 2018, NVIDIA intends to return $1.25 billion to shareholders through ongoing quarterly cash dividends and share repurchases. The company's board of directors has authorized an additional $2.00 billion under the company's stock repurchase program for a total of $2.96 billion available through the end of December 2020.

The company announced a 22 percent increase in its quarterly cash dividend to $0.14 per share from $0.115 per share, to be paid with its next quarterly cash dividend on December 19, 2016, to all shareholders of record on November 28, 2016.

*** The annual yield on the dividend is 0.8 percent.

GUIDANCE:

NVIDIA sees Q4 2017 revenue of $2.058-2.142 billion, versus the consensus of $1.69 billion.

For earnings history and earnings-related data on NVIDIA (NVDA) click here.



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