Nvidia Reports Financial Results for the Fourth Quarter and Fiscal 2020 | Financial Buzz

Nvidia Reports Financial Results for the Fourth Quarter and Fiscal 2020

NVIDIA’s invention of the GPU in 1999 sparked the growth of the PC gaming market, redefined modern computer graphics and revolutionized parallel computing. More recently, GPU deep learning ignited modern AI ― the next era of computing ― with the GPU acting as the brain of computers, robots and self-driving cars that can perceive and understand the world.

Nvidia (NASDAQ: NVDA) announced financial results for the fourth quarter.  Revenue amounted to USD 3.11 Billion, a 41% increase compared to USD 2.21 Billion a year ago.  Earnings per share amounted to USD 1.53, a 66% increase compared to USD 0.92 a year ago.  Fiscal 2020 revenue fell 7% to USD 10.92 Billion. 

“Adoption of NVIDIA accelerated computing drove excellent results, with record data center revenue,” said Jensen Huang, founder and CEO of NVIDIA. “Our initiatives are achieving great success. “NVIDIA RTX ray tracing is reinventing computer graphics, driving powerful adoption across gaming, VR and design markets, while opening new opportunities in rendering and cloud gaming. NVIDIA AI is enabling breakthroughs in language understanding, conversational AI and recommendation engines ― the core algorithms that power the internet today. And new NVIDIA computing applications in 5G, genomics, robotics and autonomous vehicles enable us to continue important work that has great impact. “We are well positioned for the greatest technology trends of our time,” he said.

Nvidia will pay out its next quarterly cash dividend of USD 0.16 per share on March 20th, 2020 to shareholders of record at the close of February 28th, 2020. 

The company has reduced its revenue outlook for the first quarter of fiscal 2020 by USD 100 Million to account for the potential impact of the coronavirus.  Revenue is anticipated to reach USD 3 Billion.  Gross margins are expected to range from 65% to 65.4%.  Operating expenses are predicted to sum up to USD 1.05 Billion and USD 835 Million.