NVIDIA Corporation NVDA reported a second-quarter earnings and sales beat on Thursday.
Adjusted earnings came in at $1.25, beating estimates by 10 cents. Sales came in at $2.58 billion, beating estimates by $30 million.
The company sees third-quarter sales of $2.842 billion-$2.958 billion compared to a $2.97 billion estimate, along with adjusted gross margin at about 62.5%.
"We achieved sequential growth across our platforms," said Jensen Huang, founder and CEO of Nvidia. "Real-time ray tracing is the most important graphics innovation in a decade. Adoption has reached a tipping point, with Nvidia RTX leading the way. "Nvidia accelerated computing momentum continues to build as the industry races to enable the next frontier in artificial intelligence, conversational AI, as well as autonomous systems like self-driving vehicles and delivery robots.
Nvidia shares traded higher by 6.4% to $158.32 in the after-hours session. The stock closed at $148.77 per share.
Related Links:
Nvidia Analysts Preview Q2 Earnings: A Challenging Near Term, But Out Years Hold Promise
Crazy Action In AMD Options As Traders Take Sides In Volatile Market
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.