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Semiconductor giant Nvidia’s quarterly report was better than expected.
Photography: MEIR CHAIMOWITZ/NURPHOTO/SHUTTER / SHUTTERSTOCK EDITORIAL/IBL
Nvidia CEO Jen-Hsun Huang.
Photo: DAVID ZALUBOWSKI/AP TT News Agency
According to CNBC, earnings per share for the quarter were $0.68, while analysts on average were expecting $0.64.
Revenues reached $30 billion, compared with expectations of $28.7 billion.
The company expects sales of $32.5 billion for the quarter. Analysts had expected a final valuation of $31.8 billion, according to research firm Street Account.
The company also announced a major $50 billion stock buyback.
Just over half an hour later, Nvidia shares fell 5% in after-hours trading on the New York Stock Exchange.
The stock has risen more than 150% so far this year.
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