Nvidia
Nvidia is now closing in on the $1 trillion club as the company is now the 8th largest company listed in the U.S. as it vaulted past Facebook
Inside the Earnings
In Q4, Nvidia reported earnings per share of $1.32 which beat analysts' expectations of $1.22 and was a 69% gain over last year. Revenue also beat expectations at $7.64 billion vs $7.42 billion, a 53% increase from last year.
The company also issued Q1 guidance above expectations at $8.1 billion vs $7.3 billion. It also noted 'exceptional' demand due to higher demand for data centers and artificial intelligence (AI). The company said that Facebook
One theme of this earnings season has been the strength in enterprise tech spending, while consumer tech spending has decelerated. This is also reflected in Nvidia's earnings which saw $3.3 billion in sales for its data center unit, a 71% increase from last year.
Nvidia's gaming unit also reported $3.4 billion in revenue, a 37% increase from last year with GeForce sales being a growth driver. The company's automotive unit was the rare loser as it saw a 14% decline in revenue due to lower auto production. Revenue from cryptocurrency mining generated $550 million in revenue, which reflects the cooling of sentiment in that sector.
The company also seems to be letting go of its ambition to purchase Arm from Softbank