Nvidia Surges 6% on FYQ1 Beat, Higher Q2 View

By Tiernan Ray Shares of graphics chip titans Nvidia (NVDA) are up $1.94, or almost 6%, at $37.51, after the company this afternoon reported fiscal Q1 revenue and profit that topped expectations, and forecast this quarter higher as well. Revenue in the three months ended on May 1st rose 13%, year over year, to $1.305 billion, yielding EPS of 46 cents, excluding some costs. Analysts had been modeling $1.265 billion and 41 cents a share. Nvidia’s sales from products for the video game market were $687 million, 17% higher than a year earlier. In the “professional visualization” category, sales rose 4% to $189 million. Sales for the data center were up 63% at $143 million. Sales into autos were up 47% at $113 million. And sales into various products for original equipment makers (OEMs) declined by 21%…

Link to Full Article: Nvidia Surges 6% on FYQ1 Beat, Higher Q2 View

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