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Feb. 14, 2020, 9:59 a.m. EST

NVIDIA Skyrockets on Q4 Numbers

Feb 14, 2020 (Baystreet.ca via COMTEX) -- NVIDIA (NAS:NVDA) began Friday's trading day heavily on the good side, on the release of fourth-quarter results.

The company, out of Santa Clara, Calif., reported revenue for the fourth quarter ended Jan. 26, 2020, of $3.11 billion, up 41% from $2.21 billion a year earlier, and up 3% from $3.01 billion in the previous quarter.

GAAP earnings per diluted share for the quarter were $1.53, up 66% from $0.92 a year ago, and up 6% from $1.45 in the previous quarter. Non-GAAP earnings per diluted share were $1.89, up 136% from $0.80 a year earlier, and up 6% from $1.78 in the previous quarter.

For fiscal 2020, revenue was $10.92 billion, down 7% from $11.72 billion a year earlier. GAAP earnings per diluted share were $4.52, down 32% from $6.63 a year earlier. Non-GAAP earnings per diluted share were $5.79, down 13% from $6.64 a year earlier.

Said CEO Jensen Huang, "Adoption of NVIDIA accelerated computing drove excellent results, with record data center revenue. Our initiatives are achieving great success.

"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."

NVIDIA shares hiked $16.98, or 6.7%, in the first hour of Friday to $286.24

COMTEX_361999682/2559/2020-02-14T09:58:50

Link to MarketWatch's Slice.