NVIDIA Corporation (NASDAQ:NVDA) reported their 2nd quarter earnings today, and skyrocketed above analysts’ expectations. They showed a 2nd quarter profit of $119 million, which is equivalent to $0.19 per share, when compared to the same period last year, the profit was $151.6 million, or $0.25 per share. The company’s revenue reportedly was $1.04 billion, up from $1.02 billion last year. After all of the adjustments, profit totaled $0.27 per share.
These figures beat the estimates on the street, which fell at $0.14 cents per share. These estimates were based on revenues totaling $1 billion. FactSet was the origination of these figures, and the company has totally impressed investors by shattering them.
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The company expects a revenue of $1.15 billion to $1.25 billion this quarter, while analysts were predicting $1.09 billion. NVIDIA Corporation (NASDAQ:NVDA)’s stock jumped 5% in after hours trading today, following the earnings report. No doubt, investors are glad to see a healthier than predicted profit from the company, and look to capitalize on it.
These numbers leave room for curiosity, as many companies in the same sector posted losses for the quarter. It would seem that NVIDIA Corporation (NASDAQ:NVDA) has figured out how to stay afloat in a shaky economy. While the analysts are scratching their heads, investors are patting each other on the back. The company expects a strong 3rd quarter which reassures investors even more of their investment’s security.