SANTA CLARA, Calif. (AP) _ Nvidia Corp. (NVDA) on Thursday reported fiscal second-quarter net income of $583 million.
The Santa Clara, California-based company said it had profit of 92 cents per share. Earnings, adjusted for one-time gains and costs, were $1.01 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.
The maker of graphics chips and processors for phones and tablets posted revenue of $2.23 billion in the period, which also topped Street forecasts. Eleven analysts surveyed by Zacks expected $1.96 billion.
For the current quarter ending in November, Nvidia said it expects revenue in the range of $2.35 billion. Analysts surveyed by Zacks had expected revenue of $2.13 billion.
Nvidia shares have climbed 54 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 9 percent. In the final minutes of trading on Thursday, shares hit $164.74, nearly tripling in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NVDA at https://www.zacks.com/ap/NVDA
Keywords: Nvidia, Earnings Report
Automated Insights, source Associated Press News