NVIDIA Corporation Stock Soars After Earnings Beat

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NVIDIA Corporation Stock Soars After Earnings Beat
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NVIDIA Corporation (NASDAQ:NVDA) released its FQ4 2018 earnings results after closing bell. On a non-GAAP basis, NVIDIA earnings came in at $1.72 per share on $2.91 billion in sales. Analysts had been expecting earnings of $1.16 per share on $2.67 billion in revenue. In the year-ago quarter, NVIDIA earnings amounted to $1.13 per share on $2.17 billion in revenue.

On a GAAP basis, NVIDIA earnings came in at $1.78 per share, versus the 99 cents per share the company reported in the same quarter a year ago. The chip maker’s GAAP gross margin rose to a new record of 61.9%, while its non-GAAP gross margin was 62.1%, compared to 60% and 60.2%, respectively, in the same quarter a year ago.

NVIDIA management said adoption of the company’s Volta GPUs has been strong among industries and that “hundreds” of transportation firms are using the NVIDIA DRIVE platform.

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