$NVIDIA (NVDA.US)$ announced Wednesday after the close with fourth-quarter results that beat expectations. The outperformance came as its Data Center business held up and Gaming revenue rebounded.
Nvidia's Key Q4 Metrics: Santa Clara, California-based Nvidia reported fourth-quarter non-GAAP earnings per share of 88 cents compared to the consensus estimate of 81 cents. This marked a decline from the year ago's $1.32 but better than the third quarter's 58 cents.
Revenue came in at $6.05 billion, slightly ahead of the Street estimate of $6.01 billion. The top line, however, fell 21% from the $7.64 billion Nvidia reported a year ago. Nvidia's third-quarter revenue was $5.93 billion.
The company guided to revenue of $6 billion plus or minus 2%.
Rosenblatt semiconductor analyst Hans Mosesmann expected Nvidia to deliver on fourth-quarter expectations on a "gradual return to sell-in match-up top sell-through in Gaming and early ramp/momentum of the new Hopper GPU/Compute cycle."
For the fiscal year, the company reported non-GAAP EPS of $3.34, down 25% year-over-year, and revenue of $26.97 billion. Analysts, on average, modeled EPS and revenue of $3.27 and $26.92 billion, respectively.
GAAP and Non-GAAP gross margins fell year-over-year, reflecting lower Gaming margins and a higher contribution from Automotive, partially offset by a higher contribution from Data Center. These improved sequentially due to lower inventory charges.
Nvidia's Sum-Of-The Parts: Segment-wise, Data Center revenue totaled $3.62 billion, down about 5.7% sequentially but up 10.8% year-over-year. It accounted for roughly 59.8% of the total revenue. The year-over-year growth reflected strength in U.S. cloud service providers. Reduced China sales led to the sequential decline.
Gaming revenue climbed 16% sequentially but was down a steep 46.5% year-over-year. It accounted for $1.8 billion or about 30% of the total revenue.
"Gaming is recovering from the post-pandemic downturn, with gamers enthusiastically embracing the new Ada architecture GPUs with AI neural rendering," said CEO Jensen Huang.
The rest of the segments, namely Professional Visualization, Autos and OEM & Other, contributed $226 million, $294 million and $84 million, respectively, to total revenue.
Automotive revenue came in at a record, reflecting growth in sales of self-driving solutions, computing solutions for electric vehicle makers and strength in sales of AI cockpit solutions.
Nvidia's Forward Outlook: Nvidia guided to first-quarter revenue of $6.5 billion, plus or minus 2%, and non-GAAP gross margins of 66.5%. Analysts, on average, target EPS of 86 cents, down from a year ago's $1.36, and revenue of $6.34 billion, a 23.5%. year-over-year decline.
"We are set to help customers take advantage of breakthroughs in generative AI and large language models. Our new AI supercomputer, with H100 and its Transformer Engine and Quantum-2 networking fabric, is in full production," Huang said.
In after-hours trading, Nvidia stock traded up 8.5% at $225.19, according to Benzinga Pro data. The average analysts' price target for Nvidia stock, compiled by TipRanks, is $234.14, suggesting about 13% upside potential.
$英伟达 (NVDA.US)$ 周三收盘后宣布,第四季度业绩超出预期。跑赢大盘是在其数据中心业务保持不变和游戏收入反弹之际出现的。
英伟达第四季度的关键指标: 总部位于加利福尼亚州圣克拉拉的英伟达公布的第四季度非公认会计准则每股收益为88美分,而市场普遍预期为81美分。这比去年同期的1.32美元有所下降,但好于第三季度的58美分。
收入为60.5亿美元,略高于华尔街估计的60.1亿美元。然而,收入比英伟达一年前公布的76.4亿美元下降了21%。英伟达第三季度收入为59.3亿美元。
该公司预计收入为60亿美元正负2%。
罗森布拉特半导体分析师 汉斯·摩斯曼 预计Nvidia将实现第四季度的预期,即 “逐渐恢复到游戏行业最畅销的卖出率,以及新的Hopper GPU/Compute周期的早期增长/势头”。
在本财年,该公司公布的非公认会计准则每股收益为3.34美元,同比下降25%,收入为269.7亿美元。分析师平均将每股收益和收入分别建模为327亿美元和269.2亿美元。
GAAP和Non-GAAP毛利率同比下降,这反映了博彩利润率的降低和汽车的贡献增加,但数据中心贡献的增加部分抵消了这一点。由于库存费用降低,这些情况逐年改善。
Nvidia 的零件总和: 细分市场方面,数据中心总收入为36.2亿美元,环比下降约5.7%,但同比增长10.8%。它约占总收入的59.8%。同比增长反映了美国云服务提供商的实力。中国销售的减少导致了连续的下降。
博彩收入环比增长16%,但同比大幅下降了46.5%。它占18亿美元,约占总收入的30%。
首席执行官表示:“游戏正在从疫情后的低迷中恢复过来,游戏玩家热情地拥抱具有人工智能神经渲染功能的新Ada架构GPU。” 詹森·黄。
其余细分市场,即专业可视化、汽车和OEM及其他,分别为总收入贡献了2.26亿美元、2.94亿美元和8400万美元。
汽车收入创历史新高,反映了自动驾驶解决方案、电动汽车制造商计算解决方案的销售增长以及人工智能驾驶舱解决方案的销售强劲。
英伟达的前瞻展望: 英伟达预计第一季度收入为65亿美元,正负2%,非公认会计准则毛利率为66.5%。分析师平均将每股收益定为86美分,低于去年同期的1.36美元,收入为63.4亿美元,同比下降23.5%。
“我们将帮助客户利用生成式人工智能和大型语言模型的突破。我们的新人工智能超级计算机,包括H100及其变压器引擎和Quantum-2网络架构,已全面投入生产,” 黄说。
Benzinga Pro的数据显示,在盘后交易中,英伟达股价上涨8.5%,至225.19美元。TipRanks编制的分析师对英伟达股票的平均目标股价为234.14美元,表明上行潜力约为13%。