Nvidia's earnings report on Tuesday was better than expected, and its outlook for the second quarter was also good. The stock price rose more than 14% after the market, and stood at $117, which is close to the $119 listing on February 7 this year. new highs. If the opening increase continues on Wednesday, NVIDIA's market value will return to 68 billion US dollars.
Nvidia’s earnings report showed first-quarter revenue of $1.94 billion, a jump of 48.4% year-on-year, better than the expected $1.91 billion. Net income of $507 million, adjusted earnings per share of $0.85, jumped 126% over the same period last year, also higher than the expected EPS of 0.81 US dollars.
The company expects second-quarter revenue of $1.95 billion (up 2%), which is higher than market expectations of $18.9 to $1.91 billion. It plans to give back to shareholders $1.25 billion through cash dividends and stock repurchases this year. In the first quarter, it has sent a cash dividend of $82 million, or about $0.14 per share.
Game revenue jumps 50%, data center and automotive business accelerate development
NVIDIA's game graphics processing unit business is still the focus of the market, as it generated 44% of the company's revenue last year. In the first quarter, the business income was 1.03 billion US dollars, a jump of nearly 50% year-on-year, and the proportion of total revenue also rose to 53%. This indicates that demand for game graphics is still strong, but still below expectations of $1.11 billion.
NVIDIA launched the world's fastest game graphics card in the first quarter: GeForce? GTX 1080 TI, also provides TITAN Xp graphics cards for game iron powder and researchers with superior computing power. Usually the game graphics business in the first quarter of the new year will be slightly weak after the upgrade of the holiday game, and many analysts have lowered their expectations for this performance.
NVIDIA has been providing graphics processors for data centers and autonomous driving technologies since last year, which has become the central driving force for last year's share price, and the development of these two businesses is also booming. Data center business revenues in the first quarter doubled to $409 million, far better than the expected $318.2 million. Revenue from the automotive business grew 24% to $140 million, better than the expected $132 million.
Among them, the relationship between data center business and Google, IBM, Tencent and Baidu cloud platforms has been deepened. In the automotive business, it also announced that it has partnered with Bosch Group, the world's largest automaker, to customize a new artificial intelligence autopilot computer system and is supporting the autopilot trials of leading global truck companies.
After the "demon stock" last year, the stock price fluctuated greatly this year.
Jen-Hsun Huang, founder and CEO of Nvidia, said that the company is making rapid progress in the field of artificial intelligence. The GPU deep learning platform in the data center is being favored by research institutions, Internet giants and startups. Three times. He believes that deep learning and artificial intelligence will become the trend of scientific research development, and also have confidence in the prospects of the company's two businesses.
After becoming the most prominent stock in the S&P 500 last year, Nvidia's share price has fallen this year, falling by 10.27 US dollars or 9.3% on February 16, after the biggest one-day drop since its listing in January 1999.
In the past three months, the company's share price has fallen by 9.4%, while the S&P 500 index has risen 3.5% over the same period. However, as of Tuesday's close, Nvidia's share price is still 186% higher than the same period last year, while the S&P index has risen 15% in the past 12 months.
The reason for the loss of NVI's Pacific Crest securities analyst Michael McConnell is that both Intel and AMD are developing advanced GPUs that will undermine the market competitiveness of NVIDIA's products. In April, he downgraded Nvidia to "sell" and set a 12-month target price of $90, arguing that NVIDIA has at least 10% price cuts.
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