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NVIDIA Corporation just reported fourth-quarter results, beating analyst estimates by a wide margin. NVIDIA shares jumped as much as 6% in after-hours trading action.
Non-GAAP earnings of $0.32 per share was a 9% year-over-year decline, but analysts would have settled for $0.18 per share. On the top line, Street firms expected a 5% year-over-year decline, but NVIDIA delivered a 3% sales surge instead.
"Quarterly revenue came in well above our outlook, driven by PC gaming, capping an outstanding year for our GPU business," said NVIDIA CEO Jen-Hsun Huang in a prepared statement.
In a separate document, NVIDIA showed sales of the mobile Tegra processor line plunging 37% year over year, but the much larger graphics division delivered a 14% revenue surge. Notebook graphics processors "declined slightly" but graphics cards for desktop PCs more than made up for that weakness.
Looking ahead, NVIDIA set first-quarter revenue targets around $1.05 billion. The expenses outlined in this guidance work out to non-GAAP earnings of roughly $0.22 per share. Analysts were looking for adjusted earnings of $0.13 per share on $1.0 billion in first-quarter sales.
The article NVIDIA Corporation Shares Soar on Earnings Beat, Strong Guidance originally appeared on Fool.com.Anders Bylund has no position in any stocks mentioned. The Motley Fool recommends NVIDIA. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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