SANTA CLARA — Shares of Nvidia Corp. rallied in extended trading Wednesday after the chipmaker’s quarterly results topped estimates, driven by strength in all of its segments.
The Santa Clara, California-based company said it earned a profit of $207 million, or 35 cents per share, in its fourth quarter ended Jan. 31.
The results surpassed Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.
The maker of graphics chips and processors for phones and tablets posted revenue of $1.4 billion in the period, topping the average FactSet estimate of $1.31 billion. Nvidia said results were strong across its gaming, professional visualization, datacenter and automotive businesses.
A year earlier the company earned $193 million, or 35 cents per share, on revenue of $1.25 billion.
For the year, Nvidia reported profit of $614 million, or $1.08 per share. Revenue was reported as $5.01 billion.
The company forecast first-quarter revenue of $1.26 billion, plus or minus 2 percent. Analysts surveyed by FactSet forecast revenue of $1.23 billion, on average.
Through the close of regular-session trading Wednesday, Nvidia’s shares were down 16 percent since the beginning of the year, while the Standard & Poor’s 500 index had fallen nearly 6 percent.
But Nvidia’s stock jumped $2.16, or nearly 8 percent, to $29.82 in after-market trading following the release of the earnings report.
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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NVDA at http://www.zacks.com/ap/NVDA
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Keywords: Nvidia, Earnings Report
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