NVIDIA’s Q2 beats expectations

After the market’s closing bell on Wednesday, NVIDIA's shares surged by an impressive 6% in extended trading. The company has shattered estimates for its fiscal second quarter, while also sharing a highly optimistic outlook for the current period. The chipmaker reported earnings of $2.70 per share, surpassing the anticipated $2.09 per share according to Refinitiv. Revenue also exceeded predictions, with NVIDIA earning $13.51 billion compared to the estimated $11.22 billion. Net income skyrocketed from $656 million, or 26 cents per share, a year ago to an impressive $6.19 billion, or $2.48 a share, this quarter. Revenue doubled from the previous year to $6.7 billion, marking an 88% increase from the previous quarter.