5 Notable Quarterly Reports to Watch

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1. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 86

Shares of NVIDIA Corporation (NASDAQ:NVDA) rose more than five percent in the after-hours trading session on Wednesday, 17 November 2021, after delivering impressive financial results for the third quarter.

The California-based tech giant reported adjusted earnings of $1.17 per share, ahead of the consensus forecast of $1.11 per share. This compares to the adjusted earnings of 73 cents per share NVIDIA Corporation (NASDAQ:NVDA) had posted for the comparable period of 2020.

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Revenue for the quarter climbed 50 percent on a year-over-year basis to $7.1 billion, easily beating analysts’ average estimate of $6.82 billion. Looking at the sales performance of its flagship segments, gaming revenue jumped 42 percent versus last year to $3.22 billion. In comparison, data center revenue soared 55 percent to $2.94 billion in the quarter.

Looking forward, NVIDIA Corporation (NASDAQ:NVDA) expects revenue in the range of $7.25 – $7.55 billion for the fourth quarter, higher than the consensus forecast of $6.89 billion.

CEO Jensen Huang expressed his satisfaction with the results, saying:

“The third quarter was outstanding, with record revenue. Demand for NVIDIA AI is surging, driven by hyperscale and cloud scale-out, and broadening adoption by more than 25,000 companies. NVIDIA RTX has reinvented computer graphics with ray tracing and AI, and is the ideal upgrade for the large, growing market of gamers and creators, as well as designers and professionals building home workstations.”

You can also take a peek at George Soros Stock Portfolio: Top 10 Stock Picks and Top 10 Stock Picks of Brandon Osten’s Venator Capital Management.

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