Reuters
NVIDIA Stock Soars After Earnings Report
Revenue and earnings beat expectations
Stock up over 10% in pre-market trading
NVIDIA's stock soared in pre-market trading on Thursday after the company reported better-than-expected earnings and revenue for its fiscal fourth quarter. The chipmaker's revenue came in at $7.64 billion, up 21% year-over-year. Earnings per share were $1.32, up 31% year-over-year. Both figures beat Wall Street estimates.
NVIDIA's strong results were driven by demand for its gaming and data center products. The company's gaming revenue grew 37% year-over-year to $3.42 billion, while its data center revenue grew 8% year-over-year to $2.94 billion.
NVIDIA's stock was up over 10% in pre-market trading on Thursday. The stock is now up over 50% year-to-date.
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