Nvidia Corporation (NASDAQ: NVDA) has reported a 53% increase in fourth-quarter revenues, reflecting the strong demand for data-center and gaming chips. Both earnings and revenues exceeded Wall Street’s prediction.
The graphics chipmaker reported adjusted earnings of $1.32 per share for the January quarter, up from $0.78 per recorded a year earlier. Net income climbed to $3.0 billion or $1.18 per share from $1.46 billion or $0.58 per share in the fourth quarter of 2021.
Revenues grew 53% annually to $7.64 billion during the three-month period and came in above the estimates, helped by record revenue from the gaming, data center, and professional visualization segments.
“We are entering the new year with strong momentum across our businesses and excellent traction with our new software business models with NVIDIA AI, NVIDIA Omniverse, and NVIDIA DRIVE. GTC is coming. We will announce many new products, applications, and partners for NVIDIA computing,” said Jensen Huang, chief executive officer of Nvidia.
Read management/analysts’ comments on Nvidia’s Q4 results
The company’s stock traded lower early Thursday, after closing the previous session higher. In the past twelve months, the stock gained about 78%.