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NVIDIA Spikes On Record Quarterly Results, Strong Guidance And Dividend Raise

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NVIDIA Spikes On Record Quarterly Results, Strong Guidance And Dividend Raise

Shares of NVIDIA Corporation (NASDAQ: NVDA) were trading up more than 12 percent in Thursday’s after-hours session, following the announcement of the company’s Q3 results.

EPS of $0.94 beat the Street’s consensus by $0.37, while revenue of $2 billion, up 53.8 percent year-over-year, came in $310 million ahead of expectations.

In addition, the company boosted its quarterly dividend by 22 percent, from $0.115 per share to $0.14 per share, and authorized an additional $2 billion in share buyback program.

For the fourth quarter, management expects sales of $2.1 billion. Analysts at BMO said they envision sales of 1.70 billion and EPS of $0.54. MKM, for its part, models $1737.9 billion in revenue and $0.56 in EPS.

"We had a breakout quarter - record revenue, record margins and record earnings were driven by strength across all product lines," Founder and CEO Jen-Hsun Huang said. "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 added.

Posted-In: Earnings News Guidance After-Hours Center Movers Tech Best of Benzinga

 

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