Why Nvidia Stock Blasted Higher on Thursday

Shares of Nvidia (NASDAQ: NVDA) charged sharply higher Thursday, jumping as much as 15.5%. As of 10:10 a.m. ET, the stock was still up 14.6%. The catalyst that sent the semiconductor giant higher was earnings results that far outpaced expectations while forecasting (another) record-breaking quarter.

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For its fiscal 2024 fourth quarter (ended Jan. 28), Nvidia generated revenue of $22.1 billion, soaring 265% year over year and 22% sequentially. This resulted in adjusted earnings per share (EPS) of $5.16, which surged 486% and 28% sequentially. This marks the third consecutive quarter of triple-digit growth from the company.

Source Fool.com