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Nvidia Trades Higher On Q2 Earnings Beat

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Nvidia Trades Higher On Q2 Earnings Beat

NVIDIA Corporation (NASDAQ: NVDA) reported a second-quarter earnings and sales beat on Thursday.

Adjusted earnings came in at $1.25, beating estimates by 10 cents. Sales came in at $2.58 billion, beating estimates by $30 million.

The company sees third-quarter sales of $2.842 billion-$2.958 billion compared to a $2.97 billion estimate, along with adjusted gross margin at about 62.5%.

"We achieved sequential growth across our platforms," said Jensen Huang, founder and CEO of Nvidia. "Real-time ray tracing is the most important graphics innovation in a decade. Adoption has reached a tipping point, with Nvidia RTX leading the way. "Nvidia accelerated computing momentum continues to build as the industry races to enable the next frontier in artificial intelligence, conversational AI, as well as autonomous systems like self-driving vehicles and delivery robots.

Nvidia shares traded higher by 6.4% to $158.32 in the after-hours session. The stock closed at $148.77 per share.

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