Nvidia shares soar after biggest growth in six years
Nvidia has seen its biggest quarterly growth in six years thanks to surging demand for their new range of high-end graphics cards. Revenue for the third quarter rose by 53% to $2 billion, smashing analyst predictions of just $1.69 billion. The news sent shares soaring to record highs of $77.40 in after-hours trading, up 14.2%. The company’s graphics processing unit sector, meanwhile, is up 52.9% this quarter to $1.70 billion, accounting for 85% of all Nvidia revenue. Nvidia launched its eagerly anticipated Geforce GTX 10 series GPUs back in May, considered the most powerful range of desktop cards on the market. Nvidia now hold around 70% of the market share for discrete graphics chips. “We had a breakout quarter – record revenue, record margins and record earnings were driven by…
Link to Full Article: Nvidia shares soar after biggest growth in six years
Nvidia shares soar after biggest growth in six years
