After the close today, Nvidia (NVDA) reported fourth quarter earnings of $1.32 a share (versus analyst projections of $1.22) and revenue of $7.6 billion (versus expectations for $7.42 billion).
As of 4:45 the stock has trading down $1.09 in the after-hours market.
In my opinion that’s likely a result of a big run up in the stock before earnings. The stock gained 11% from February 11 through the close today, February 16. From January 27, a low in the recent downturn in Nvidia shares, to today’s close the shares are up 21%.
Most important for Nvidia going forward was continued strength in revenue from the data center business, where revenue climbed to $3.26 billion against an expected $3.15 billion. In the company’s traditional core–gaming–revenue of $3.42 billion be a projections for $3.36 billion. The strength in gaming revenue is especially impressive given chip shortages that have left Nvidia looking at hefty price increases and an inability to meet demand.
For the first quarter of 2022 the company forecast revenue of $8.1 billion. Before today’s report analysts had been looking for $7.2 billion in that quarter.
Nvidia is a member of my long-term 50 Stocks Portfolio. That position is up 96.03% since October 21, 2020 as of the close on February 16, 2022. The stock is also a member of my Millennial Portfolio on JubakAM.com. That position is up 36.58% since July 22, 2021.
