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New Earnings Beats for NVIDIA, AMAT & Pinterest Revenues

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Graphics processor giant NVIDIA NVDA reported fiscal Q1 2020 results after the closing bell Thursday, with results beating estimates on both top and bottom lines. Earnings of 88 cents per share outperformed the 82 cents expected by Zacks analysts. Revenues of $2.22 billion surpassed the $2.20 billion anticipated, although this number was down considerably from the $3.21 billion reported in the year-ago quarter.

Further, NVIDIA intends to return $3 billion to shareholders by the end of the current fiscal year. The company has only missed earnings estimates once since calendar Q3 2015, when we recalibrated earnings related to stock-based compensation. NVIDIA shares are trading up more than 5% in the after-hours session.

Pinterest PINS, an Internet-based "visual discovery engine" with a Zacks Rank #3 (Hold) rating, debuted its first earnings release as a publicly traded company, after its late-April IPO. As is often the case with newer companies (without much analyst coverage at this stage), its EPS numbers were way off estimates of -9 cents per share, reporting -32 cents instead. Revenues, however, were slightly better than expected: $201.9 million in sales as opposed to $201.1 million in the Zacks consensus.

Growth numbers were solid for Pinterest, especially globally: overall global growth was +54% year over year, with global monthly active users (MAUs) up 22% from a year ago and average revenue per user (ARPU) +26% globally from its year-ago quarter. However, shares are taking a bath in the wake of the big bottom-line miss, trading down 15% at this hour.

Applied Materials AMAT outperformed expectations on its fiscal Q2 top and bottom lines after Thursday's closing bell, putting up 70 cents per share on $3.54 billion in revenues compared with the 66 cents and $3.48 billion expected. Even better, AMAT guidance for Q3 was taken higher — notable considering competitors like Intel had trimmed guidance in their earnings reports. Applied Materials stock is trading north of 4% in after-hours. For more on AMAT's earnings, click here.

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