NVIDIA stock rockets up after earnings beat
NVIDIA jumped more than 13 percent in after-hours trading after earnings crushed Wall Street estimates.
The company reported $0.79 EPS on $1.94 billion in revenue, beating consensus of $0.66 EPS on $1.91 billion in revenue. More importantly, NVIDIA's revenue was up 48 percent from a year ago while GAAP EPS was up 126 percent.
The company also gave very strong guidance for the second quarter, calling for $1.89 billion to $1.95 billion in revenue.
NVIDIA was particularly bullish on its datacenter GPU business and its prospects in artificial intelligence.
"The AI revolution is moving fast and continuing to accelerate," said Jensen Huang, founder and chief executive officer of NVIDIA, said in a release.
"Our Datacenter GPU computing business nearly tripled from last year, as more of the world's computer scientists engage deep learning. One industry after another is awakening to the power of GPU deep learning and AI, the most important technology force of our time," he said.
NVIDIA jumped more than 13 percent in after-hours trading after earnings crushed Wall Street estimates.
The company reported $0.79 EPS on $1.94 billion in revenue, beating consensus of $0.66 EPS on $1.91 billion in revenue. More importantly, NVIDIA's revenue was up 48 percent from a year ago while GAAP EPS was up 126 percent.
The company also gave very strong guidance for the second quarter, calling for $1.89 billion to $1.95 billion in revenue.
NVIDIA was particularly bullish on its datacenter GPU business and its prospects in artificial intelligence.
"The AI revolution is moving fast and continuing to accelerate," said Jensen Huang, founder and chief executive officer of NVIDIA, said in a release.
"Our Datacenter GPU computing business nearly tripled from last year, as more of the world's computer scientists engage deep learning. One industry after another is awakening to the power of GPU deep learning and AI, the most important technology force of our time," he said.
