SANTA CLARA, Calif. (AP) _ Nvidia Corp. (NVDA) on Thursday reported fiscal first-quarter earnings of $394 million.
On a per-share basis, the Santa Clara, California-based company said it had profit of 64 cents. Earnings, adjusted for one-time gains and costs, were 88 cents per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.
The maker of graphics chips for gaming and artificial intelligence posted revenue of $2.22 billion in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $2.2 billion.
Nvidia shares have increased 20% since the beginning of the year, while the Standard & Poor's 500 index has increased 15%. In the final minutes of trading on Thursday, shares hit $160.19, a decline of 35% 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