In early after-hours trade the stock is up 13.01% ($8.82) at $76.59.
From Barron's:
Nvidia Soars 10%: FYQ3 Crushes Consensus, So Does Q4 Rev View
Graphics chip pioneer Nvidia (NVDA) this afternoon reported fiscal Q3 revenue and earnings per share that blew away analysts’ expectations, and a forecast for this quarter’s revenue also substantially above consensus, sending its shares surging in late trading by 10%.
Revenue in the three months ended in October rose to $2 billion, yielding EPS of 94 cents, excluding come costs.
Analysts had been modeling $1.69 billion and 69 cents a share, excluding some costs.
Gross profit margin, on a non-GAAP basis, was 59.2%, up from 58.1% in Q2 and 56.5% a year earlier.
CEO Jen-Hsun Huang said the company had “a breakout quarter,” with record results “driven by strength across all product lines.”
Added Huang, “Our new Pascal GPUs are fully ramped and enjoying great success in gaming, VR, self-driving cars and datacenter AI computing.”
He continued:
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....
