Nvidia quarterly revenue beats expectations

By @ibtimes on

Chipmaker Nvidia Corp posted second-quarter revenue slightly above expectations as it rushes to diversify its graphics expertise from PCs into more mobile gadgets, sending its shares up sharply.

The company reported non-GAAP net earnings of $193.5 million, or 32 cents a share, for the quarter ending July 31, compared with a net profit of $47.6 million, or 8 cents a share, in the year-ago period.

Revenue in the quarter was $1.02 billion, a bit above analysts' average estimate of $1.01 billion, according to Thomson Reuters I/B/E/S.

Shares of Nvidia jumped 13 percent to $15.23 in extended trade after closing up 8.67 percent on Nasdaq in a broad market rally.

(Reporting by Noel Randewich)

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