MarketWatch First Take: Eye-popping Nvidia earnings send stock soaring, but automotive business still stalled

Nvidia Corp. reported full-year earnings Thursday that validated the huge increase in its stock price over the past two-plus years, but the final piece of the bull theory is still in neutral until at least later this year.

Nvidia’s NVDA, -4.93% numbers were eye-popping, especially for a company that has been public for nearly 20 years and experienced an annual sales decline just five years ago. The key numbers for Nvidia’s 2018 fiscal year: Revenue increased 41%, profit increased 83% (yes, that’s GAAP) and gross margin increased by 110 basis points.

Those numbers were just part of another impressive quarterly report for the chip maker, which sent shares up more than 7% in late trading.

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