Tuesday, May 9, 2017

"Nvidia Surges 10%: FYQ1 Beats, Q2 View Tops Consensus" (NVDA)

We want to see the gains hold above $110 through tomorrow's close.
In early afterhours trade the stock is up 11.23% at $114.50.
From Barron's Tech Trader Daily:
Graphics chip maker Nvidia brushed aside worries of a slowing market and drove its shares up 10% in late trading with fiscal Q1 results that topped consensus and a higher outlook for this quarter as well.

Graphics and cloud computing chip maker Nvidia (NVDA) this afternoon reported fiscal Q1 revenue and profit that topped analysts' expectations, and also forecast this quarter's results higher, driving its stock up 10% in late trading.

Revenue in the three months ended in March rose 48%, year over year, to $1.94 billion, yielding EPS of 79 cents.

Analysts had been modeling $1.91 billion in revenue and 66 cents GAAP EPS.
The company's gross profit margin was 59.6%, on a non-GAAP basis.
CEO Jen-Hsun Huang remarked that the company's chips sold into data centers had "nearly tripled" from the prior-year period, "as more of the world's computer scientists engage deep learning."

Added Huang, "One industry after another is awakening to the power of GPU deep learning and A.I., the most important technology force of our time."...MORE
Here's the report at the company, about 20 minutes to the webcast:

First Quarter 2018
NVIDIA 1st Quarter FY18 Financial Results
May 9, 2017
2:00 PM PT