NVIDIA (NASDAQ:NVDA) Defies Skeptics With stellar Financials & Announces Collaboration With Toyota For Autonomous Cars
NVIDIA (NASDAQ:NVDA) recap May 10th, 2017. As the Santa Clara based graphic chip developer announced stellar financial results for the first quarter of 2017 and later in the day the company announced a new collaboration with Toyota Motor Corp (NYSE:TM) for autonomous (self-driving) systems planned for market introduction within the next few years.
Shares of NVIDIA (NASDAQ:NVDA) closed up today 17.83% at $121.29 with 53.2 million shares trading hands, well above the average volume of 15 million. The stellar financial "Earnings Beat" highlights are as follows:
The collaboration with Toyota Motor Corp (NYSE:TM) is to deliver artificial intelligence hardware and software technologies to enhance the capabilities of autonomous driving systems. Toyota, one of the world's largest automakers, will use the NVIDIA DRIVE™ PX AI car computer platform to power advanced autonomous driving systems planned for market introduction. Engineering teams from the two companies are already developing sophisticated software on NVIDIA's high-performance DRIVE™ PX AI platform that will enhance the capabilities of Toyota vehicles, enabling them to better understand the massive volume of data generated by sensors on the car, and to handle the broad spectrum of autonomous driving situations. This recap is great for shareholders and fans of NVIDIA.
Shares of NVIDIA (NASDAQ:NVDA) closed up today 17.83% at $121.29 with 53.2 million shares trading hands, well above the average volume of 15 million. The stellar financial "Earnings Beat" highlights are as follows:
- Revenue of $1.94 billion, up 48 percent from a year ago
- GAAP EPS of $0.79, up 126 percent from a year ago
- Non-GAAP EPS of $0.85, up 85 percent from a year ago
- Broad growth across all platforms
The collaboration with Toyota Motor Corp (NYSE:TM) is to deliver artificial intelligence hardware and software technologies to enhance the capabilities of autonomous driving systems. Toyota, one of the world's largest automakers, will use the NVIDIA DRIVE™ PX AI car computer platform to power advanced autonomous driving systems planned for market introduction. Engineering teams from the two companies are already developing sophisticated software on NVIDIA's high-performance DRIVE™ PX AI platform that will enhance the capabilities of Toyota vehicles, enabling them to better understand the massive volume of data generated by sensors on the car, and to handle the broad spectrum of autonomous driving situations. This recap is great for shareholders and fans of NVIDIA.
