By Yasin Ebrahim
Investing.com — Nvidia (NASDAQ:NVDA) reported on Wednesday fourth-quarter results topped analysts expectations, led by record growth in its gaming and data center businesses.
Nvidia shares lost 1.20% in after-hours trade following the report.
Nvidia announced earnings per share of $1.32 on revenue of $7.64 billion. Analysts polled by Investing.com anticipated EPS of $1.22 on revenue of $7.41 billion.
Revenue in its gaming business grew 37% to a record $3.42 billion for the quarter year-on-year, while its data center revenue also swelled to record of $3.26 billion, up 71% from a year earlier.
“Gaming, Data Center and Professional Visualization market platforms each achieved record revenue for the quarter and year,” the company said.
Nvidia, which announced earlier this month that it would end its pursuit to acquire chipmaker ARM, flagged a charge of $1.36 billion charge related to the write-off of the prepayment to acquire Arm, expected to be recorded in the first quarter of fiscal 2023.
Looking ahead, the company forecast first-quarter revenue of $8.1 billion, plus or minus 2%, compared with analysts’ estimates of $7.28 billion.
“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,” the company said.
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Nvidia Results Beat in Q4 as Gaming, Data Center Growth Jumps
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