Nvidia Profit Up 7%, Outlook Strong; Shares Up

Shutterstock photo (RTTNews.com) – Nvidia Corp. ( NVDA ) Wednesday said its fourth-quarter profit increased 7 percent from a year ago, driven largely by a better-than-expected growth in revenues and stronger margins. Shares of the graphics chip maker jumped over 7 percent in extended hours, on a strong revenue outlook for the current quarter. Santa Clara, California-based Nvidia’s fourth-quarter profit rose to $207 million or $0.35 per share from $193 million or $0.35 per share last year. Adjusted earnings for the quarter increased to $297 million or $0.52 per share from $241 million or $0.43 per share last year. On average, 21 analysts estimated earnings of $0.32 per share for the quarter. Analysts’ estimates typically exclude one-time items. Nvidia’s gross margin for the quarter improved to 56.5 percent from 55.9…


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