Shares of Nvidia Take Off With A Sharp Jump in Data-center Business

Shares of Nvidia Corp. surged noticeably more than 10 percent in after-hours trading on Tuesday after the gaming company reported earnings easily beat estimates and that its can move beyond the core gaming business and find success elsewhere.

The California-based technology company posted net income of $507 million, or 79 cents a share, on sales of $1.94 billion, which were much higher than economists’ expectations calling for earnings of 66 cents a share on sales of $1.91 billion.

However, revenue from its core videogame segment produced less revenue than expected in the first quarter of its 2018 fiscal year. Nvidia’s gaming business was reported to produce $1.03 billion in gaming sales against average forecasts of $1.13 billion.

However, thanks to Nvidia’s artificial-intelligence advances, shares of the company jumped drastically. Nvidia reported more than $400 million in quarterly revenue for the data-center business and better-than-expected performance from the segment focused on self-driving cars and other automotive efforts.

Trade suggestion

Buy Stop at 113.80, Take profit 115.00, Stop loss at 113.20

Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!

Leave a Reply

Your email address will not be published.