NVIDIA Beats Q4 Estimates, Sales Up 55%

The hottest stock of 2016, NVIDIA Corporation NVDA released its fourth quarter earnings after the market close on Thursday.

Despite an earnings beat on the top and bottom line, shares sank over 3 percent.

• NVIDIA Reports Q4 Adj. EPS $1.13, beats by $0.30
• Revenues $2.17B, beats by $60 million, Sales up 55 percent
• NVIDIA sees FY18 revenues of $1.9 billion against estimates of $1.88 billion

"Fourth quarter revenue increased 55 percent year over year and 8 percent sequentially to a record $2.17 billion," CGO Colette Kress said. "Growth from a year ago was driven by GPUs for gaming, datacenter and professional visualization, as well as for Tegra® automotive systems. GPU business revenue for the fourth quarter was $1.85 billion, up 57 percent from a year earlier and up 9 percent sequentially, led by growth across all platforms, including exceptional growth from our GeForce® GPU gaming and datacenter platforms."

The stock traded recently at$113.52, down 2.2 percent.