Nvidia Stock Jumps on Earnings Beat and Guidance That Sped by Expectations

Nvidia (NASDAQ: NVDA) reported strong fiscal third-quarter 2022 results after the market close on Wednesday, Nov. 17. The graphics processing unit (GPU) specialist's growth was driven by record revenue in its gaming and data center businesses, its two largest platforms. Its professional visualization business also turned in record sales.

Shares of the tech stock gained 5.2% in Wednesday's after-hours trading session, which bodes well for robust market performance on Thursday. Investors' enthusiasm is attributable to both revenue and earnings easily beating Wall Street's consensus estimates, and fiscal fourth-quarter guidance for both the top and bottom lines also coming in higher than analysts had been projecting.

In 2021, Nvidia stock has returned 124% through Wednesday's regular trading session. The S&P 500 market index has returned 26.4% over this period.

Source Fool.com