Nvidia beats on Q4 expectations and offers better-than-anticipated Q1 outlook

Nvidia (NVDA) reported its fiscal fourth quarter results after the bell on Wednesday, beating analysts’ expectations on the top and bottom lines. The company also offered Q1 guidance between $76.44 billion and $79.56 billion, above Wall Street’s estimates of $72.8 billion.

That outlook doesn’t include any potential revenue out of China.

Nvidia shares rose as much as 3% in after-hours trading before giving up those gains.

For the quarter, Nvidia saw earnings per share of $1.62 on revenue of $68.1 billion. Wall Street was anticipating EPS of $1.53 on revenue of $65.8 billion, according to Bloomberg analyst consensus estimates. The company reported EPS of $0.89 and revenue of $39.3 billion in the same quarter last year.

Nvidia’s data center drove the vast majority of that growth, bringing in $62.3 billion for the period. That’s better than analysts’ projections of $60.2 billion.

CFO Colette Kress said much of that came from hyperscalers.

“For the fourth quarter, hyperscaler revenue increased and remained our largest customer category at slightly over 50% of Data Center revenue, while growth was led by the rest of our Data Center customers as revenue diversified,” she said in a statement.

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Nvidia breaks down its data center business into compute, graphics chips and CPUs, and networking. For the quarter, the company said compute revenue grew 58% year over year, while networking soared 263% to $11…