Nvidia Corporation (NVDA – Free Report) just released its fourth-quarter financial results, posting earnings of $1.78 per share and revenues of $2.91 billion.

Currently, NVDA is a Zacks Rank #2 (Buy), but that could change based on today’s results. The stock is currently up 7.21% to $233.20 per share in after-hours trading shortly after its earnings report was released.

Nvidia:

Beat earnings estimates. The company posted earnings of $1.78 per share, crushing the Zacks Consensus Estimate of $1.16. Earnings were $1.72 per share on a non-GAAP basis.

Beat revenue estimates. The company saw revenue figures of $2.91 billion, beating our consensus estimate of $2.67 billion.

Earnings were up 80% from the year-ago period. Total revenues climbed 34%. Revenues in the Gaming division were $1.739 billion, up from $1.348 billion last year. Datacenter revenues soared to $606 million from just $296 million a year ago. Automotive revenues touched $132 million, up from $128 million in the prior-year period.

“Industries around the world are racing to incorporate AI. Virtually every internet and cloud service provider has embraced our Volta GPUs. Hundreds of transportation companies are using our NVIDIA DRIVE platform. From manufacturing and healthcare to smart cities, innovators are using our platform to invent the future,” said CEO Jensen Huang.

Here’s a graph that looks at Nvidia’s recent earnings performance:

NVIDIA Corporation Price, Consensus and EPS Surprise

NVIDIA Corporation Price, Consensus and EPS Surprise | NVIDIA Corporation Quote

Nvidia Corporation is the worldwide leader in graphics processors and media communications devices. Nvidia designs graphics processing units (GPUs) and system on a chip units (SoCs). The Santa Clara, California-based firm’s traditional business focuses on delivering GPUs to the gaming market and SoCs to the mobile computing market. Nvidia is also considered a leading supplier for “smart” vehicles, datacenters, cryptocurrency mining, artificial intelligence, and autonomous driving.

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