Investing

NVIDIA Returns To Profits One Quarter Early (NVDA, AMD)

NVIDIA Corporation (NASDAQ: NVDA) is back to profitability.  Yep, profits. The graphics chipset leader posted $0.07 non-GAAP EPS.  This is down almost half from last year’s $0.13 EPS, but it is significantly better than the Thomson Reuters consensus target of -$0.02 EPS.  Revenue fell to $776.5 million from $892.7 million a year ago, but Thomson Reuters had those targets at $713.6 million.

There is of course a huge difference on GAAP and non-GAAP figures.  This GAAP income for the second quarter was loss of -$105.3 million, or -$0.19 EPS.

The company is now calling for gain of 5% to 7% sequentially for revenues for its Q3 period.  We tally that up to roughly a range of $815.3 million to $830.8 million.  We have Thomson Reuters  estimates pegged at $758 million and the highest estimate seen is $815 million, so this is also above and beyond the consensus..

Be advised that analysts were already calling for a return to profits of $90.03 EPS for the next quarter, so this return to profits on a non-GAAP basis is a quarter ahead of schedule.

Shares have already more than doubled off of lows.  This stock closed down 2% at $13.12 today, but shares are back up to $13.75 in the after-hours session.  The 52-week range is $5.75 to $14.12.

As Advanced Micro Devices, Inc. (NYSE: AMD) is half processor and half graphics chipsets from the ATI acquisition, there might be some secondary action there.

JON C. OGG
AUGUST 6, 2009

Take Charge of Your Retirement: Find the Right Financial Advisor For You in Minutes (Sponsor)

Retirement planning doesn’t have to feel overwhelming. The key is finding professional guidance—and we’ve made it easier than ever for you to connect with the right financial advisor for your unique needs.

Here’s how it works: 

1️ Answer a Few Simple Questions

Tell us a bit about your goals and preferences—it only takes a few minutes!

2️ Get Your Top Advisor Matches

This tool matches you with qualified advisors who specialize in helping people like you achieve financial success.

3️ Choose Your Best Fit

Review their profiles, schedule an introductory meeting, and select the advisor who feels right for you.

Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.

AI Portfolio

Discover Our Top AI Stocks

Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.

You can follow him investing $500,000 of his own money on our top AI stocks for free.