{"id":340491,"date":"2017-05-10T04:55:56","date_gmt":"2017-05-09T20:55:56","guid":{"rendered":"http:\/\/techcrunch.com\/?p=1487516"},"modified":"2017-05-10T04:55:56","modified_gmt":"2017-05-09T20:55:56","slug":"nvidia-is-surging-after-its-income-more-than-doubled-year-over-year","status":"publish","type":"post","link":"https:\/\/people.utm.my\/asmawisham\/nvidia-is-surging-after-its-income-more-than-doubled-year-over-year\/","title":{"rendered":"Nvidia is surging after its income more than doubled year-over-year"},"content":{"rendered":"

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Nvidia\u2019s ballooning GPU business and big bets on divisions like autonomous driving continue to look better and better, with the company\u2019s shares jumping more than 10% after it reported its first-quarter earnings.<\/p>\n

[related articles]In the first quarter this year, the company said it brought in $507 million in net income \u2014 up from $208 million in the first quarter a year ago. That doubled income comes as its revenue jumped 48% between the first quarter last year and this year. Much of Nvidia\u2019s rapid ascent is thanks to the increasing need for GPUs that can handle deep learning problems like autonomous driving and speech recognition.<\/p>\n

That\u2019s giving Nvidia a new renewed growth story that Wall Street apparently loves. After being synonymous for graphics cards and gaming, Nvidia has emerged as a go-to provider for hardware for any company \u2014 especially startups tackling new problems \u2014 that needs to sift through an enormous pile of data and build a model that it can then efficiently tap on the spot.<\/p>\n

All this positive performance doesn\u2019t guarantee Nvidia total immunity from competition in the GPU space, though for now it\u2019s the golden child. Google, for example, is building its own chips for\u00a0machine learning algorithms<\/a>. There\u2019s increased focus in the whole area, which makes sense that Nvidia is now going after areas where its products can specialize like autonomous driving.<\/p>\n

Here\u2019s what the stock looks like for the past year, just for some perspective:<\/p>\n

Nvidia beat out what Wall Street was looking for, bringing in\u00a0$0.79 in earnings per share on revenue of $1.94. Analysts expected the company to report\u00a0earnings of 67 cents per share with $1.91 billion in revenue. The company said its \u201cdatacenter GPU computing business nearly tripled from last year,\u201d which is going to be critical for the company going forward. It fell into a leading position in hardware necessary for deep learning products that most\u00a0companies\u00a0\u2014 at least for now \u2014 in the space will need.<\/p>\n

Featured Image: Kim Kulish\/Getty Images<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

\"\" Nvidia’s ballooning GPU business and big bets on divisions like autonomous driving continue to look better and better, with the company’s shares jumping more than 10% after it reported its first-quarter earnings. [related articles]In the first quarter this year, the company said it brought in $507 million in net income — up from $208 million in the first quarter a year ago.… Read More<\/a><\/p>\n

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