NVIDIA's Earnings Beat Expectations; Stock Pops
NVIDIA (NASDAQ: NVDA) reported robust fiscal first-quarter 2021 results after the market close on Thursday, May 21.
The graphics processing unit (GPU) specialist's revenue jumped 39% year over year to $3.08 billion. Like last quarter, its year-over-year growth was driven by record revenue in its artificial intelligence (AI)-driven data center platform. Earnings per share adjusted for one-time items soared 105% to $1.80.
Shares of the tech stock are up 2.2% on Friday, as of 11:59 a.m. EDT. We can attribute the market's positive reaction to results on both the top and bottom lines beating Wall Street's consensus estimates, and to second-quarter revenue guidance coming in a little higher than analysts had expected.
Source Fool.com
