Earnings Results: Nvidia shares convene on gain beat

Nvidia Corp. shares rose in a extended event Thursday after a chip builder surfaced Wall Street expectations for a entertain even as data-center sales came in weaker than expected.


NVDA, -0.87%

 shares rose 6.3% after hours, following a 0.9% decrease in a unchanging event to tighten during $148.77. In comparison, a PHLX Semiconductor Index

SOX, -0.23%

fell slightly, a SP 500 index

SPX, +0.25%

rose 0.2%, and a tech-heavy Nasdaq Composite Index

COMP, -0.09%

was about flat.

The association reported second-quarter net income of $552 million, or 90 cents a share, compared with $947 million, or $1.54 a share, in a year-ago period. Adjusted gain were $1.24 a share.

Revenue declined to $2.58 billion from $3.12 billion in a year-ago quarter.

Analysts surveyed by FactSet had foresee gain of $1.15 a share on income of $2.55 billion.

Revenue from gaming, Nvidia’s largest business, declined 27% to $1.31 billion, while analysts were awaiting $1.3 billion. Data-center income slipped 14% from a year ago to $655 million while Wall Street was awaiting $668.5 million.

Nvidia expects third-quarter income of $2.84 billion to $2.96 billion, while analysts design $2.98 billion.

Wallace Witkowski is a MarketWatch news editor in San Francisco. Follow him on Twitter @wmwitkowski.

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