Shares of world’s leading chipmaker NVIDIA rose as much as 8 percent on February 14, 2019, after the company reported better-than-expected earnings for the fourth quarter of its 2019 fiscal year.
According to a February 14 report from CNBC, earnings for the full fiscal year were “very solid,” with revenue up 21 percent to $11.7 billion, and an overall gross margin of 61.2 percent, up 1.3 percent from 2018.
However, the company’s revenues were sharply hit by the frigid crypto winter and it faced a year-over-year revenue drop of $706 million, or 24 percent, with fourth-quarter revenues of $2.2 billion. Data from AnandTech showed that NVIDIA’s gross margin fell to 54.7 percent, down more than 7 percent from Q4 2018, while operating income was a down 73 percent to $294 million.
Despite the fact that NVIDIA’s net income was only down 49 percent, coming in at $567 million, it managed to dilute earnings-per-share of $0.92, down 48 percent from 2018.