Shares of chipmaker Nvidia jumped in aftermarket trading Thursday as its second-quarter results were stronger than Wall Street expected.
The maker of graphics chips and processors for phones and tablets said its profit fell to $26 million, or 5 cents per share, from $128 million, or 22 cents a share, a year earlier. But excluding charges related to the ending of its Icera modem business and other special items, the company said it earned 34 cents per share. Its revenue rose 5 percent to $1.15 billion.
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Analysts expected net income of 11 cents per share on $1.01 billion in revenue, according to Zacks Investment Research. The company's fiscal second quarter ended on July 26.
Nvidia Corp. shares added $1.95, or 9.5 percent, to $22.40 in aftermarket trading.
The Santa Clara, California-based company said it expects about $1.18 billion in revenue in its current fiscal quarter, which ends in November. Analysts surveyed by Zacks had expected $1.13 billion.
Nvidia shares have risen 2 percent in 2015 and closed at $20.45 on Thursday.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NVDA at http://www.zacks.com/ap/NVDA
Keywords: Nvidia, Earnings Report