Nvidia Tops Earnings in Q4 on 'Record' Data Center Revenue

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© Reuters. NVIDIA Earnings, Revenue Beat in Q4© Reuters. NVIDIA Earnings, Revenue Beat in Q4

Investing.com – Nvidia reported fourth-quarter results on Thursday that beat analysts’ forecasts, with the chipmaker hailing “record” data center revenue amid a rebound in demand.

Shares rose 6% postmarket.

Nvidia announced earnings per share of $1.89 on revenue of $3.11 billion. Analysts polled by Investing.com anticipated EPS of $1.66 on revenue of $2.96 billion.

That compared with an EPS of $0.92 on revenue of $2.21 billion in the same period a year before. Nvidia (NASDAQ:) had reported EPS of $1.78 on revenue of $3.01 billion in the previous quarter.

The beat on the top and bottom lines comes as data center sales rose to a record thanks a rebound in demand on easing concerns about a slowdown in the global economy.

“Adoption of NVIDIA accelerated computing drove excellent results, with record data center revenue,” said Jensen Huang, founder and CEO. “Our initiatives are achieving great success.”

Looking ahead, Nvidia guided first-quarter revenue of $3 billion, give or take 2%, compared consensus estimates from Investing.com for revenue of $2.85 billion. That included an esimated reduction of about $100 million due to the impact from Covid-19.

Nvidia shares are up 15% from the beginning of the year, still down 0.99% from its 52 week high of $273.48 set on February 13. They are outperforming the which is up 4% year to date.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar

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