Reuters
FILE PHOTO: Jensen Huang, CEO of Nvidia, shows the NVIDIA Volta GPU computing platform at his keynote address at CES in Las Vegas
- Nvidia on Thursday reported better-than-expected first quarter results.
- Revenue guidance for the second quarter was also ahead of expectations.
- Wall Street analysts were positive on Nvidia following the results.
- Watch Nvidia trade live.
Nvidia on Thursday evening reported better-than-expected first-quarter results, sending shares up more than 5% after the closing bell. They were set to open little changed on Friday.
The chipmaker earned an adjusted $0.88 a share on revenue of $2.22 billion, topping the $0.81 and $2.19 billion that analysts surveyed by Bloomberg were expecting.
"NVIDIA is back on an upward trajectory," said cofounder and CEO Jensen Huang. "We've returned to growth in gaming, with nearly 100 new GeForce Max-Q laptops shipping. And NVIDIA RTX has gained broad industry support, making ray tracing the standard for next-generation gaming."
Looking ahead to the second quarter, Nvidia sees revenue of $2.55 billion at the midpoint, plus or minus 2%. That was better than the $2.53 billion that analysts were hoping for.
Here's what Wall Street analysts are saying about the results:
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