Nvidia shareholders are likely having a hard time wiping the grins off their faces following the company’s latest earnings report. For the quarter ending October 26, Nvidia earned $1.225 billion in revenue – a 16 percent increase compared to the same period a year ago, an 11 percent jump sequentially and ahead of analysts’ estimates of $1.202 billion. Profit for the quarter checked in at $173 million, or $0.31 per share; analysts were expecting $0.28 a share. During the year-ago quarter, Nvidia earned just $119 million in profit, or $0.20 per share.
After the close yesterday, Nvidia reported earnings for their fisical Q3 ending 10/26 and the numbers not only should keep investors happy with current performance but also lay the foundation for strong future growth as well. For starters, total revenue for the PC graphics powerhouse is up 15 percent year on year at this time, clocking in at $3.43 billion (versus $2.99 billion last year). For the quarter, the company is up a bit more at at $1.23 billion which equates to 16 percent growth versus the same period last year, with an 11 percent upside versus Q2 this year. Though the street expected 28 cents per share on revenue of $1.2 billion, Nvidia reported non-GAAP earnings at 39 cents per share on that $1.23 billion I noted earlier. Though shares of Nvidia opened soft this morning, NVDA has been on an uptick since mid October, rebounding from a low of about $17, now testing new highs for the year around $20.