NVIDIA Corporation (NVDA) Stock Flat After Earnings

By Tim - http://stockstobuy.org

Shares of NVIDIA Corporation (NVDA) are flat in afterhours after the company reported earnings tonight. NVIDIA Corporation (NVDA) closed that trading session at $23.38 and are currently trading at $23.30. NVDA will have resistance around $24.25 tomorrow.

NVIDIA Reports Financial Results for Fourth Quarter and Fiscal Year 2011

NVIDIA (NASDAQ: NVDA) today reported revenue of $886.4 million for the fourth quarter of fiscal 2011 ended Jan. 30, 2011, up 5.0 percent from the prior quarter and down 9.8 percent from $982.5 million from the same period a year earlier.

On a GAAP basis, the company recorded net income of $171.7 million, or $0.29 per diluted share, compared with $84.9 million, or $0.15 per diluted share, in the previous quarter and GAAP net income of $131.1 million, or $0.23 per diluted share, in the same period a year earlier. GAAP gross margin was a record 48.1 percent compared with 46.5 percent in the previous quarter and 44.7 percent in the same period a year earlier.

"These strong results underscore the larger story of NVIDIA's transformation," said Jen-Hsun Huang, NVIDIA president and chief executive officer. "Even as we are extending our leadership in visual computing, our investment in mobile computing and parallel computing is now driving our growth.

"Tegra is positioned center stage in the revolution in super phones and tablets, while Tesla is becoming an essential processor for supercomputing. I have never been more excited about NVIDIA's prospects."

http://pressroom.nvidia.com/easyir/customrel.do?easyirid=A0D622CE9F579F09&version=live&releasejsp=release_157&xhtml=true&prid=722235