Nvidia stock surges 10% on record results

Video, AI and self-driving-car chipmaker Nvidia saw its share price surge more than 10% in after-hours trading on Thursday following record fourth-quarter results.

Revenue for Q4 was $2.91bn, up 34% from $2.17bn the previous year, and up 10% from $2.64bn in the previous quarter.

Revenue for the full financial year was a record $9.71bn, up 41% from $6.91bn the previous year, while earnings per share were a record $4.82, up 88% from $2.57.

Net profit was $1.1bn for Q4, up 71% year on year, and $3.2bn for the full year – an increase of 83%.

Artificial intelligence

“We achieved another record quarter, capping an excellent year,” said Jensen Huang, founder and chief executive officer of NVIDIA.

Jensen Huang – Industries around the world are racing to incorporate artificial intelligence (AI) Photo: Nvidia

“Software developers working in AI [artificial intelligence], self-driving cars, and a broad range of other fields continued to discover the acceleration and money-saving benefits of our GPU computing platform.”

He said industries around the world were racing to incorporate AI.

“Virtually every internet and cloud service provider has embraced our Volta GPUs. Hundreds of transportation companies are using our NVIDIA DRIVE platform. From manufacturing and healthcare to smart cities, innovators are using our platform to invent the future,” he said.