NVIDIA beats by $0.05, misses revenue estimates on gaming and datacenter; guides Q4 EPS and revenue well below consensus; adds to share buyback, raises dividend 7%
- Reports Q3 (Oct) earnings of $1.97 per share, excluding non-recurring items, $0.05 better than the S&P Capital IQ Consensus of $1.92; revenues rose 20.7% year/year to $3.18 bln vs the $3.24 bln S&P Capital IQ Consensus. Three market platforms - Professional Visualization, Datacenter, and Automotive - posted record revenue.
- Gaming revenue was short of their expectations, and fourth quarter outlook is impacted by excess channel inventory of midrange Pascal products. They believe this is a near-term issue that will be corrected in one to two quarters, and remain confident in competitive position and market opportunities. Gaming revenue was $1.76 billion vs. $1.9 bln estimates, up 13 percent from a year ago driven by growth in gaming GPUs, and down 2 percent sequentially as gaming GPU growth was more than offset by a seasonal decline in SOC modules for Nintendo Switch.
- Datacenter revenue was a record $792 million vs. $820 mln estimates, up 58% from a year ago and up 4 percent sequentially
- Co issues downside guidance for Q4, sees EPS of ~$1.32-1.49, excluding non-recurring items, vs. $2.01 S&P Capital IQ Consensus; sees Q4 revs of $2.65-2.75 bln vs. $3.4 bln S&P Capital IQ Consensus.
- In November 2018, the board of directors authorized an additional $7 billion under the company's share repurchase program for a total of $7.94 billion available through the end of December 2022.
- NVIDIA announced a 7 percent increase in its quarterly cash dividend to $0.16 per share. NVIDIA intends to return an additional $3 billion to shareholders by the end of fiscal 2020, which may begin in the fourth quarter of fiscal 2019
No comments:
Post a Comment