Computer graphic chip producer, NVIDIA Corporation(NVDA
) reported increased profits on Thursday, beating estimates.
The Santa Clara, CA based company reported fourth quarter net income of $173.97 million, or 28 cents per share, a 33% increase from $116.03 million, or 19 cents per share last year. Analysts expected to see earnings of 24 cents per share.
Revenue for the quarter was $1.11 billion, up from $953.19 million last year. On average, analysts expected to see $1.10 billion in revenue.
Looking ahead, the company expects to see fourth quarter revenue of $940 million, which would miss analysts estimate of $1.07 billion. Capital expenditures are expected to be in the range of $55 million to $65 million.
NVIDIA shares were down 28 cents, or -2.30% during Thursday morning trading. The stock has declined -25% in the past year.
The Bottom Line
Shares of NVIDIA Corporation(NCVDA) have a 2.43% yield, based on Wednesday’s closing price of $12.37.
NVIDIA Corporation(NVDA) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.
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