SANTA CLARA, Calif. (AP) _ Nvidia Corp. (NVDA) on Thursday reported fiscal second-quarter net income of $552 million.
The Santa Clara, California-based company said it had profit of 90 cents per share. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, were $1.24 per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.
The maker of graphics chips for gaming and artificial intelligence posted revenue of $2.58 billion in the period, also beating Street forecasts. Ten analysts surveyed by Zacks expected $2.55 billion.
Nvidia shares have climbed 11% since the beginning of the year, while the Standard & Poor's 500 index has increased 14%. In the final minutes of trading on Thursday, shares hit $148.77, a decline of 43% in the last 12 months.