Nvidia Shares Plunge In After-hours Following Second-quarter Earnings Beat

Nvidia Corp. shares plunged 4.2% in after-hours trading Thursday, after the graphic processing unit (GPU) designer beat expectations for earnings and sales. In the second-quarter, the company logged earnings of 92 cents a share on revenue of $2.23 billion, up 56% from the same quarter last year. Analysts had modeled EPS of 70 cents, and sales of $1.96 billion, according to FactSet. Nvidia has beaten the FactSet consensus for earnings the last eight quarters in a row. Executives issued third-quarter sales guidance of $2.35 billion, with a two percent margin of error, while analysts modeled revenue of $2.1 billion, according to FactSet. Nvidia stock has nearly tripled in the past year, gaining 183% as the S&P 500 index has gained 11.7%.