NVIDIA Announces Financial Results for Fourth Quarter and Fiscal 2022
Earnings Beat Estimates, Stock Rises in Aftermarket Trading
Key Highlights:
- Non-GAAP earnings per diluted share were $0.61, up 19% from the previous quarter and 46.1% from a year ago.
- Revenue for the fourth quarter was $8.41 billion, up 14% year-over-year.
- NVIDIA's share price rose as much as 4.4% in aftermarket trading following the earnings release.
- NVIDIA will host a conference call to discuss the results on Wednesday, May 22, at 2 pm.
NVIDIA's financial results for the fourth quarter and fiscal 2022 exceeded analysts' expectations, driven by strong demand for its data center and gaming products. The company reported non-GAAP earnings per diluted share of $0.61, surpassing the consensus estimate of $0.57. Revenue for the quarter came in at $8.41 billion, above the expected $8.10 billion.
NVIDIA's gaming revenue grew 31% year-over-year to $3.62 billion, while data center revenue increased 8% to $3.75 billion. The company attributed the growth to strong demand for its latest graphics cards and artificial intelligence (AI) chips.
"We had a strong finish to the year, with record revenue and earnings per share," said Jensen Huang, NVIDIA's founder and CEO. "Our Data Center and Gaming platforms continue to drive our growth, and we are well-positioned to capitalize on the long-term secular trends of AI, metaverse, and cloud computing."
NVIDIA's financial results and positive outlook have boosted investor confidence in the company. Its stock price has gained over 20% since the start of the year, outperforming the broader market. Analysts remain optimistic about NVIDIA's prospects, citing its strong competitive position and the growing demand for its products.
Links for NVIDIA's Quarterly Financial Results and Analyst QA Webcasts:
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