SANTA CLARA, Calif. (AP) _ Nvidia Corp. (NVDA) on Thursday reported fiscal fourth-quarter net income of $950 million.
The Santa Clara, California-based company said it had profit of $1.53 per share. Earnings, adjusted for one-time gains and costs, were $1.89 per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.66 per share.
The maker of graphics chips for gaming and artificial intelligence posted revenue of $3.11 billion in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $2.96 billion.
For the year, the company reported profit of $2.8 billion, or $4.52 per share. Revenue was reported as $10.92 billion.
Nvidia shares have risen 15% since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 4%. In the final minutes of trading on Thursday, shares hit $270.78, a rise of 77% in the last 12 months.