Nvidia Share Holders Enjoy Revenue Increase
Nvidia gave investors something to cheer about on Thursday, announcing that its third-quarter profit more than doubled and predicting that its profit margins would continue to expand. Investors cheered the news, sending the company’s stock up $1.56, or 4.5%, to $36.34 in after-hour trading.
In the quarter ended Oct. 30, the graphics chipmaker earned $65.3 million, or 42 cents a share, on sales of $583.4 million. In the year-ago period, the company earned $25.9 million, or 15 cents a share, on $515.6 million in sales.
On average, analysts surveyed by Thomson First Call were expecting the company to earn 36 cents a share, including the charge, on sales of $582.5 million.
On its earnings call in August, the company didn’t give specific guidance for the third quarter, but did predict that sales would be “flat to slightly up” from the $574.8 million it posted in the second quarter.
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