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Nvidia: Fiscal 3Q Earnings Snapshot

·1 min read

SANTA CLARA, Calif. (AP) _ Nvidia Corp. (NVDA) on Wednesday reported fiscal third-quarter earnings of $1.34 billion.

The Santa Clara, California-based company said it had profit of $2.12 per share. Earnings, adjusted for one-time gains and costs, came to $2.91 per share.

The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.57 per share.

The maker of graphics chips for gaming and artificial intelligence posted revenue of $4.73 billion in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $4.42 billion.

Nvidia shares have more than doubled since the beginning of the year, while the Standard & Poor's 500 index has increased 10%. In the final minutes of trading on Wednesday, shares hit $537.15, more than doubling in the last 12 months.

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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