Nvidia Trounces Earnings Expectations, Shares Top 52-week High

Nvidia Corp. easily exceeded profit and revenue expectations in the third quarter, and shares jumped nearly 8% in late trading Thursday. The Silicon Valley graphics specialist announced net income of $246 million, or 44 cents a share, on sales of $1.3 billion; after adjustments, Nvidia claimed sales of 46 cents a share. Analysts on average expected Nvidia to report adjusted earnings of 35 cents a share on sales of $1.18 billion, according to FactSet. Nvidia also announced an 18% increase in its dividend, to 11.5 cents a share, which will be paid Dec. 14 to shareholders as of Nov. 20. Shares pushed near $30 in late trading after closing with a 1.1% decline at $27.71; Nvidia's 52-week high is $28.78.