Investing

NVIDIA Cruises Past Estimates

NVIDIA Corporation (NASDAQ: NVDA) was bought up ahead of earnings as investors ran the stock up over 3% in the regular trading session.  The graphics and processor outfit turned in earnings of $0.27 on adjusted earnings per share and its headline earnings report was $0.19 per share.  Revenues came in at $1.04 billion.   Thomson Reuters had estimates of $0.14 EPS and $1.01 billion in sales.

The move into smaller and mobile computing appears to be paying off.  That is particularly the case if you look at NVIDIA’s sales targets ahead.

The company also aid that non-GAAP gross margin was 52% and it gave guidance of $1.15 billion to $1.25 billion for the quarter ahead. Thomson Reuters had estimates of $0.22 EPS and $1.09 billion in revenue.

Shares closed up 3.3% at $14.70 and the 52-week range is $11.47 to $16.90.  Investors are so far cheering the news and shares are trading up almost 5% at $15.39 in the after-hours trading session. We would note that share initially jumped to over 6% in the after-hours post-news reaction.

JON C. OGG