NVIDIA Corporation (NASDAQ:NVDA) shares are trading lower by 6.8% at $247.05 Thursday morning after the company reported fourth-quarter earnings results.
Nvidia reported quarterly earnings of $1.32 per share which beat the analyst consensus estimate of $1.22. The company reported quarterly sales of $7.64 billion which beat the analyst consensus estimate of $7.42 billion by 3%. This is a 53% increase over sales of $5.00 billion the same period last year. Nvidia says Gaming, Data Center and Professional Visualization market platforms each achieved record revenue for the quarter and year.
"We are seeing exceptional demand for NVIDIA computing platforms," said Jensen Huang, founder and CEO of NVIDIA. "NVIDIA is propelling advances in AI, digital biology, climate sciences, gaming, creative design, autonomous vehicles and robotics – some of today's most impactful fields.
"We are entering the new year with strong momentum across our businesses and excellent traction with our new software business models with NVIDIA AI, NVIDIA Omniverse and NVIDIA DRIVE. GTC is coming. We will announce many new products, applications and partners for NVIDIA computing," he said.
Nvidia says the company paid quarterly cash dividends of $100 million in the fourth quarter and $399 million in fiscal 2022. Nvidia will pay its next quarterly cash dividend of 4 cents per share on March 24, 2022, to all shareholders of record on March 3, 2022.
Nvidia has a 52-week high of $346.47 and a 52-week low of $115.66.
