Nvidia Rises To Record Highs Before And After Earnings Report

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.