Nvidia stock rose over 5% in extended trading after reporting earnings for its third fiscal quarter on Wednesday that exceeded expectations for both earnings and sales.
The company also issued an upbeat revenue forecast for the current quarter ending January.
Here’s how it fared versus Refinitiv’s consensus expectations for the quarter ended October 31:
- Merits: $ 1.17 adjusted versus $ 1.11 expected, 60% more than last year
- revenue: $ 7.10 billion versus an expected $ 6.82 billion, 50% more than last year
Nvidia expects around $ 7.4 billion for the current quarter, which ends in January, more than analysts’ expectations of $ 6.86 billion.
Nvidia stock has seen a big bounce, with stocks rising more than 124% year-to-date. The company has more demand than it can fill, especially for its hard-to-find GeForce graphics cards that are popular with gamers.
The company has worked in data centers where cloud providers and large corporations rely on the kind of …