5 Earnings Reports You Don’t Want to Miss

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1. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 110

NVIDIA Corporation (NASDAQ:NVDA) recently announced better-than-expected financial results for the fourth quarter, driven by the solid performance of its gaming and data center businesses.

However, sales at its automotive segment fell on a year-over-year basis due to weak demand and supply chain disruptions. The disappointing performance by the automotive unit apparently overshadowed the strong quarterly results, sending NVIDIA shares down for two straight days following its earnings report.

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For the fourth quarter, NVIDIA Corporation (NASDAQ:NVDA) reported adjusted earnings of $1.32 per share, significantly higher than 77 cents per share in the year-ago period. Revenue for the quarter climbed 53 percent versus last year to $7.64 billion. The results easily surpassed the consensus forecast of $1.22 per share for earnings and 7.42 billion for revenue.

If we look at the performance of flagship units of NVIDIA Corporation (NASDAQ:NVDA), gaming revenue jumped 37 percent to $3.42 billion and data center revenue climbed 71 percent to $3.26 billion in the quarter. In comparison, professional visualization revenue skyrocketed 109 percent to $643 million, while automotive and robotics revenue declined 14 percent to $125 million in the quarter.

NVIDIA Corporation (NASDAQ:NVDA) also released its sales outlook for the first quarter. The company expects to generate revenue of around $8.10 billion for the current quarter, better than the consensus of $7.29 billion.

Discussing the results, CEO Jensen Huang said:

“We are seeing exceptional demand for NVIDIA computing platforms. NVIDIA is propelling advances in AI, digital biology, climate sciences, gaming, creative design, autonomous vehicles and robotics – some of today’s most impactful fields.”

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