NVIDIA Corp. (NASDAQ: NVDA) reported fiscal fourth-quarter financial results after the markets closed on Thursday. The company posted $1.13 in non-GAAP earnings share (EPS) and $2.17 billion in revenue. Thomson Reuters has consensus estimates that called for $0.83 in EPS and $2.11 billion in revenue. The same period from last year had $0.52 in EPS and $1.4 billion in revenue.
During the quarter, the company introduced GeForce GTX 1050 and 1050 Ti mobile GPUs, which debuted in over 30 gaming laptops at the 2017 Consumer Electronics Show.
Also in the quarter, NVIDIA collaborated with Microsoft to accelerate AI with a GPU-accelerated Microsoft Cognitive Toolkit available on the Microsoft Azure cloud.
Other notable partnerships were made in this quarter with Audi, Mercedes-Benz, and Bosch.
In terms of the outlook for the fiscal first quarter, the company expects to see $190 billion in revenue, with a gross margin of 59.7%. The consensus estimates are calling for $0.64 in EPS and $1.88 billion in revenue for the quarter.
On the books, cash, cash equivalents, and marketable securities totaled $6.80 billion at the end of the quarter, versus $5.04 billion at the end of the same period last year.
Jen-Hsun Huang, founder and CEO of NVIDIA, commented:
We had a great finish to a record year, with continued strong growth across all our businesses. Our GPU computing platform is enjoying rapid adoption in artificial intelligence, cloud computing, gaming, and autonomous vehicles.
Huang added:
Deep learning on NVIDIA GPUs, a breakthrough approach to AI, is helping to tackle challenges such as self-driving cars, early cancer detection and weather prediction. We can now see that GPU-based deep learning will revolutionize major industries, from consumer internet and transportation to health care and manufacturing. The era of AI is upon us.
Shares of NVIDIA closed Thursday at $116.38, with a consensus analyst price target of $103.50 and a 52-week trading range of $24.75 to $120.92. Following the release of the earnings report, the stock was initially down 2.3% at $113.62 in the after-hours trading session.
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