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NVIDIA Corporation Shares Surge on Strong Data-Center, Automotive Sales

This self-driving race car runs on NVIDIA's Pascal-based Tegra processors. Image source:

NVIDIA.

Graphics processor specialist NVIDIA (NASDAQ:NVDA) reported results on Thursday night, covering the first quarter of fiscal year 2017. In after-market trading, investors reacted to the report with an instant share-price boost of more than 7%.

Here's how the first quarter worked out.

NVIDIA's Q1 results: The raw numbers

Q1 2017 Actuals

Q1 2016 Actuals

Growth (YOY)

Revenue

$1.31 billion

$1.15 billion

13.9%

Free Cash Flow

$254 million

$216 million

17.6%

Net Income

$196 million

$134 million

46.3%

GAAP EPS (diluted)

$0.33

$0.24

37.5%

What happened with NVIDIA this quarter?

Sales exceeded the top-end of management's guidance for the quarter. GAAP earnings were expected to stop at roughly $190 million. The company enjoyed strong sales growth in three out of five reportable business segments, as products based on the long-awaited Pascal architecture started rolling out.

  • Gaming revenue increased 17% year over year, supported by a new virtual-reality development kit, and fresh game titles for the NVIDIA SHIELD set-top box. Pascal-based GeForce cards were introduced at the start of the second quarter. These products should provide additional growth as gamers and system builders grab their system upgrades.
  • NVIDIA processors are being adopted by carmakers, powering infotainment systems and autonomous driving tools. This segment showed 46.8% sales growth this quarter, landing above $100 million for the first time.
  • Not to be...

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