Nvidia (NVDA) announced first quarter results on Friday. Revenue was $924.9 million, better than the consensus estimate of analysts. Net profit was $60.4 million, or 10 cents per share in the first quarter,.
Nvidia also released the financial guidance for the second quarter, showing the current quarter revenue would increase more than expected.
Nvidia estimated that second-quarter revenue would reach $9.9 billion to $1.05 billion. According to the statics of Thomson Reuters, analysts averagely projected Nvidia would recognize $916 million and $976.2 million for the first and second quarter, respectively.
NVDA stock price surged by 6.36%, or $0.79, to close at $13.21, with a volume of 35.88 shares versus average daily volume of 12.24 million shares. Over the past 52 weeks, the company has seen its share price drop from the peak of $20.52 to the current level, with a decrease of more than 33%. NVDA stock currently trades 13.97 times earnings.