NVIDIA Stock Rose 1.82% on February 15



NVIDIA stock rose on February 15

NVIDIA (NVDA) stock rose 1.82% on February 15 and closed at $157.34 after the semiconductor giant reported upbeat fiscal 2019 fourth-quarter earnings results. The stock rose as high as 8% in after-hours trading on February 14, when the company made its earnings announcement.

NVIDIA stock has risen ~17.9% since the beginning of the year but has fallen nearly 36.7% in the past year, probably due to the fall in crypto demand, which led to surplus inventory. In comparison, NVIDIA’s rival Advanced Micro Devices (AMD) has risen an impressive 97%, while its graphics processing unit rival Intel (INTC) has risen 14.3% in the past year as of February 15.

Article continues below advertisement

NVIDIA’s fourth-quarter results

NVIDIA topped analysts’ estimates for both earnings and revenue in the fourth quarter. Its adjusted EPS of $0.80 exceeded Wall Street analysts’ estimate of $0.75 in the period. Its revenue of $2.21 billion was also ahead of the consensus estimate of $2.20 billion despite a major inventory pileup.

In the fourth quarter of fiscal 2019, NVIDIA’s adjusted earnings fell 53.5% YoY (year-over-year) and 56.5% compared to the previous quarter. Its revenue also plummeted to $2.21 billion, down 24.1% YoY and ~30.5% compared to the third quarter. The company’s results were negatively affected by excess inventory due to the end of the cryptocurrency boom and deteriorating end market conditions.


More From Market Realist