NVIDIA Corporation (NVDA) Releases Earnings Results, Beats Expectations By $0.05 EPS

NVIDIA Corporation (NVDA) reported quarterly earnings results on Thursday, Aug-11-2016. The company said it had a profit of $0.53 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.48. The company posted revenue of $1428.00 million in the period, compared to analysts expectations of $1352.71 million. The company’s revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.

Many Wall Street Analysts have commented on NVIDIA Corporation. Company shares were Reiterated by Barclays on Aug 10, 2016 to “Underweight”, Firm has raised the Price Target to $ 40 from a previous price target of $30 .NVIDIA Corporation was Downgraded by Wells Fargo to ” Underperform” on Jul 15, 2016. Mizuho Initiated NVIDIA Corporation on Jul 15, 2016 to “Buy”, Price Target of the shares are set at $60.

NVIDIA Corporation opened for trading at $59 and hit $59.14 on the upside on Monday, eventually ending the session at $58.74, with a gain of 0.93% or 0.54 points. The heightened volatility saw the trading volume jump to 76,26,603 shares. Company has a market cap of $31,367 M.

In a different news, on Jul 15, 2016, Jen Hsun Huang (President and CEO) sold 40,000 shares at $52.94 per share price. According to the SEC, on Jul 15, 2016, Mark L Perry (director) sold 35,000 shares at $52.93 per share price. On Jun 20, 2016, A Brooke Seawell (director) sold 5,142 shares at $47.01 per share price, according to the Form-4 filing with the securities and exchange commission.

NVIDIA Corporation (NVIDIA) is engaged in visual computing enabling individuals to interact with digital ideas data and entertainment. The Company is engaged in creating NVIDIA-branded products and services offering its processors to original equipment manufacturers (OEMs) and licensing its intellectual property. NVIDIA-branded products and services are visual computing platforms that address four markets: Gaming Enterprise High Performance Computing & Cloud and Automotive. The Company operates in two segments: Graphics Processing Unit (GPU) and Tegra Processor. The Company’s GPU product brands include GeForce for gamers; Quadro for designers; Tesla for researchers learning and big-data analysts; and GRID for cloud-based visual computing users. The Company’s Tegra processors are primarily designed to enable its branded platforms: DRIVE and SHIELD.

NVIDIA Corporation

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