Nvidia tops Q4 estimates with $1.14B in revenue, $0.32 EPS
Following up NetApp and Cisco, Nvidia shined above the rest with stellar fourth quarter earnings after the bell on Wednesday.
The GPU maker reported a net income of $147 million, or 25 cents per share (statement).
While those figures are down from what Nvidia posted during the same quarter last year, results still exceeded expectations.
Non-GAAP earnings were 32 cents per share on a revenue of $1.14 billion, up 8.6 percent annually.
Wall Street was looking for earnings of 18 cents per share and revenue around $1.05 billion.
For the full year, Nvidia posted revenue of $4.13 billion and non-GAAP earnings at 99 cents per share.
In prepared remarks, CEO and president Jen-Hsun Huang credited PC gaming as the primary driver for beating expectations:
Tesla and Quadro both achieved record annual revenue. GRID cloud technology is being evaluated at hundreds of large enterprises worldwide. And Tegra K1 is disrupting the auto industry, paving the way to self-piloted cars. The groundbreaking work we are doing in visual computing is expanding the opportunities for our GPUs.
While the GeForce GTX GPU (touted as the "ultimate GPU for gamers") grew revenue by nearly 50 percent during the quarter, Nvidia has been busy strategizing to target more and new audiences.
During the quarter, the graphics chipmaker introduced the Tesla K40, boasted to be the world's fastest accelerator for supercomputing and big data analytics. Nvidia also inked a deal with IBM to build supercomputers and accelerate enterprise data analytics applications with GPUs.
For the current quarter, Wall Street expects Nvidia to start off the next fiscal year with Q1 earnings of 13 cents per share and revenue of $1 billion.
Nvidia offered revenue guidance of $1.05 billion, plus or minus two percent.