Nvidia Jumps 7% After Q1 Results

Nvidia

released its first-quarter earnings results after the closing bell on Friday. The company reported adjusted net income of $97.53 million or $0.16 per share, compared to $165.71 million or $0.27 per share, in the year ago period. This compared to Wall Street analysts' consensus EPS estimates of $0.10. Revenue in the quarter was down 4 percent to $924.88 million from $962.04 million last year. This came in ahead of Street consensus revenue estimates of $916.17 million. Looking ahead to the fiscal second-quarter, NVDA sees revenues between $990 million to $1.05 billion. This is above analysts' current consensus of $976.20 million. During Friday's trading session, NVDA has surged 7.45% to $13.35.