Nvidia Rises To Record Highs Before And After Earnings Report

By Markets MarketWatch Pulse

Nvidia Corp. hit record highs Thursday, then rose even more in late trading after beating earnings expectations. The graphics-chip specialist reported net income of $253 million, or 40 cents a share, on sales of $1.43 billion. Analysts on average expected Nvidia to report profit of 37 cents a share on revenue of $1.35 billion, according to FactSet. "Strong demand for our new Pascal-generation GPUs and surging interest in deep learning drove record results," Chief Executive Jen-Hsun Huang said in Thursday's news release. Nvidia hit an all-time intraday high of $59.95 before closing with a 2% gain at $59.70 Thursday; in immediate late trading after the earnings report was released, shares neared $62.

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