SANTA CLARA, Calif. (AP) _ Nvidia Corp. (NVDA) on Thursday reported fiscal third-quarter profit of $899 million.
On a per-share basis, the Santa Clara, California-based company said it had profit of $1.45. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, were $1.78 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.57 per share.
The maker of graphics chips for gaming and artificial intelligence posted revenue of $3.01 billion in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $2.9 billion.
Nvidia shares have risen 57% since the beginning of the year, while the Standard & Poor's 500 index has climbed 24%. In the final minutes of trading on Thursday, shares hit $209.79, a rise of slightly more than 6% in the last 12 months.