Nvidia stock dips as Q4 results top expectations
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Nvidia (NASDAQ:NVDA) shares dipped in after-hours despite the semiconductor company posting fourth-quarter results that beat expectations.
The Jensen Huang-led Nvidia said it earned $1.32 per share on $7.64 billion in revenue during the period ending January 30, as revenue from Gaming, Data Center and Professional Visualization achieved a record during the period.
During the period, gaming-related revenue rose 37% year-over-year to $3.42 billion, while data center revenue surged 71% year-over-year to $3.26 billion. Revenue attributed to professional visualization rose 109% year-over-year to $643 million.
A consensus of Wall Street analysts expected Nvidia to earn $1.22 per share and generate $7.43 billion in revenue.
Nvidia shares dipped more than 2% in after-hours trading to $259.39.
For the first-quarter, Nvidia said it expects revenue to be $8.1 billion, plus or minus 2 percent, with GAAP and non-GAAP gross margins at 65.2% and 67%, respectively, plus or minus 50 basis points. Analysts were expecting $7.29 billion in sales for the quarter.
It expects GAAP operating expenses during the period to be $3.55 billion, including $1.36 billion for the Arm-related write off.
The company will host a conference call at 5:30 p.m. EST to discuss the results.
On Wednesday, Nvidia announced it had signed a deal with Jaguar Land Rover to provide software for next-generation vehicles.