NVIDIA (NVDA) Tops Q3 Views on GPU Growth, Record Margins; Issues Muted Outlook
Tweet
Share
E-mail
Get Alerts NVDA Hot Sheet
Price: $796.77 --0%
Revenue Growth %: +240.5%
Financial Fact:
Shares used in basic per share computation (in shares): 538M
Today's EPS Names:
UXIN, TOWN, NRIM, More
Revenue Growth %: +240.5%
Financial Fact:
Shares used in basic per share computation (in shares): 538M
Today's EPS Names:
UXIN, TOWN, NRIM, More
Join SI Premium – FREE
NVIDIA (Nasdaq: NVDA) shares are trading higher after hours Thursday following strong quarterly performance from the GPU giant.
Revenue for NVIDIA increased 4.9 percent from $1.017 billion during the same quarter last year to $1.066 billion.
Net income rose 17.6 percent to $178.3 million, or 29 cents per sahre. Adjust for certain items, and earnings were a more robust 35 cents per share.
The Street was looking for revs of $1.07 billion and earnings of 26 cents per share.
Notably, non-GAAP gross margin at 52.5 percent was the fifth-straight record quarter for NVIDIA.
GPU revenue increased 1 percent to $644.8 million, while consumer products showed the best growth (14 percent) to $191.1 million.
CEO Jen-Hsun Huang said its "GPU business accelerated in the third quarter, driven by strong demand from gamers and the professional market. And our mobile business benefited from new devices coming onto the market."
Looking ahead, NVIDIA sees fourth-quarter 2012 revs flat to plus or minus 2 percent sequentially. Non-GAAP gross margins are expected to be flat to up 0.5 points from the third quarter, while operating expenses are expected to be about $300 million.
NVIDIA stock is up 5.6 percent in late trading.
Revenue for NVIDIA increased 4.9 percent from $1.017 billion during the same quarter last year to $1.066 billion.
Net income rose 17.6 percent to $178.3 million, or 29 cents per sahre. Adjust for certain items, and earnings were a more robust 35 cents per share.
The Street was looking for revs of $1.07 billion and earnings of 26 cents per share.
Notably, non-GAAP gross margin at 52.5 percent was the fifth-straight record quarter for NVIDIA.
GPU revenue increased 1 percent to $644.8 million, while consumer products showed the best growth (14 percent) to $191.1 million.
CEO Jen-Hsun Huang said its "GPU business accelerated in the third quarter, driven by strong demand from gamers and the professional market. And our mobile business benefited from new devices coming onto the market."
Looking ahead, NVIDIA sees fourth-quarter 2012 revs flat to plus or minus 2 percent sequentially. Non-GAAP gross margins are expected to be flat to up 0.5 points from the third quarter, while operating expenses are expected to be about $300 million.
NVIDIA stock is up 5.6 percent in late trading.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
- Advanced Semiconductor (ASX) Reports Q1 EPS of NT$1.28
- Check Point Software Technology (CHKP) Tops Q1 EPS by 3c
Create E-mail Alert Related Categories
Corporate News, EarningsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
