Nvidia Jumps More Than 10% After Handily Beating On Earnings

By Jeremy C. OwensMarketsMarketWatch Pulse

Nvidia Corp. stock jumped more than 10% in late trading Tuesday after easily beating earnings estimates amid concerns about revenue from its core videogame segment. The graphics specialist reported net income more than doubled to $507 million, or 79 cents a share, on sales of $1.94 billion. Analysts on average expected Nvidia to report earnings of 66 cents a share on sales of $1.91 billion, according to FactSet. Nvidia stock has come under pressure of late amid skepticism of its market capitalization after a huge boom in 2016 and early 2017 thanks to artificial-intelligence advances. Shares roared back to more than $114 in late trading Tuesday after closing with a 0.2% advance at $102.94.

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