NVIDIA Corp, Pandora Media Inc Shares Fall After Earnings

NVIDIA and Pandora Media released their latest earnings reports after closing bell tonight. NVIDIA posted non-GAAP earnings of $1.13 per share and GAAP earnings of 99 cents per share or $655 million on $2.2 billion in revenues, while analysts were expecting 83 cents per share and $2.1 billion in revenue. The chip maker had guided for $1.9 billion, plus or minus 2 percentage points, in revenue for the quarter. In the year-ago quarter, it reported $2 billion in revenue, 52 cents per share in non-GAAP earnings, and 35 cents per share in GAAP earnings.

Pandora Media reported $392.6 million in revenue and adjusted losses of 13 cents per share, while Wall Street was expecting losses of 21 cents per share on $374.2 million in revenue. In the same quarter a year ago, the streaming music service provider reported adjusted earnings of 4 cents per share.

NVIDIA posts record quarter

Coho Capital 2Q20 Commentary: Podcasts, The New Talk Radio

Coho Capital LogoCoho Capital commentary for the second quarter ended June 30, 2020. Q2 2020 hedge fund letters, conferences and more Dear Partners, Coho Capital returned 46.6% during the first half of the year compared to a loss of 3.1% in the S&P 500. Many of our holdings, such as Netflix, Amazon, and Spotify, were perceived beneficiaries Read More

NVIDIA’s GAAP gross margin was 60%, while its non-GAAP gross margin was 60.2%.

“We had a great finish to a record year, with continued strong growth across all our businesses,” NVIDIA Founder and CEO Jen-Hsun Huang said in a statement. “Our GPU computing platform is enjoying rapid adoption in artificial intelligence, cloud computing, gaming, and autonomous vehicles.?”

For the first quarter, NVIDIA expects $1.9 billion in revenue, plus or minus 2 percent. It expects its GAAP margin to be about 59.5% and the non-GAAP margin to be 59.7%, plus or minus 50 basis points. The Street expects NVIDIA to report 64 cents per share in earnings and $1.88 billion in revenue.

Shares of NVIDIA declined by as much as 2.59% to $113.36 in after-hours trades.

Pandora Media shares slump on disappointing outlook


Pandora Media said net losses amounted to 38 cents per share. Ad RPMs in the fourth quarter grew 18% to $67.43, while ad revenue rose 16% to $313.3 million. Ticketing service revenue grew 20% to $19.4 million in the fourth quarter. Adjusted EBITDA flipped to a loss of $30.4 million from a profit of $24.8 million in the year-ago quarter. Average revenue per paid subscriber amounted to $4.73 in the fourth quarter, while subscription licensing cost per user was $3.12.

Total listener hours ticked upward 0.4% to 5.38 billion in the fourth quarter, while active listeners shrunk to 81 million from 81.1 million in the year-ago quarter. Subscribers rose 12% to 4.39 million.

For the first quarter, Pandora Media expects $310 million to $320 million in revenue and an adjusted EBITDA loss of $80 million to $70 million. The Street expects Pandora’s revenue to rise to $341.7 million for the current quarter. Consensus for earnings currently stands at an adjusted loss of 27 cents per share, compared to the year-ago profit of 2 cents per share.

Shares of Pandora Media fell by as much as 2.77% to $12.27 in after-hours trades.