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Nvidia Corp shares shined on Wednesday in after-hours trade, after the chip maker reported ‘record’ revenue in its second quarter.
Shares in Nvidia were up 8.0% to $508.83 in after-hour trade in New York on Wednesday, having closed 3.2% higher.
The Santa Clara, California-based firm reported ‘record’ revenue of $13.51 billion in the three months ended July 30, more than double from $6.70 billion a year earlier.
Non-GAAP net income in the second quarter surged to $6.74 billion from $1.28 billion the previous year, as basic earnings per share multiplied to $2.50 from $0.26.
In the first half of its financial year, revenue rose to $20.70 billion from $14.99 billion year-on-year. Net income multiplied to $8.23 billion from $2.27 billion. Basic EPS jumped to $3.33 from $0.91.
Nvidia added that it will pay its next quarterly cash dividend of $0.04 per share on September 28.
Looking ahead, Nvidia expects revenue in its third quarter to be around $16.0 billion.
‘A new computing era has begun. Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI,’ said Jensen Huang, founder & chief executive.
‘Nvidia GPUs connected by our Mellanox networking and switch technologies and running our CUDA AI software stack make up the computing infrastructure of generative AI.’
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