Why Nvidia (NVDA) Stock Is Gaining Today

NEW YORK (TheStreet) -- Shares of Nvidia Corp.  (NVDA) are up 3.78% to $18.12 in pre-market trade after the graphics chips maker reported revenue for the second quarter of $1.10 billion, up 13% from $977 million a year earlier and in line with the previous quarter.

Revenue for the first half was up 14% to a record $2.21 billion from $1.93 billion a year earlier.

GAAP earnings per diluted share for the quarter were 22 cents, up 38% from 16 cents a year earlier and down 8% from the previous quarter. 

Non-GAAP earnings per diluted share were 30 cents, up 30% from 23 cents a year earlier, and up 3% from the previous quarter. The second quarter consensus estimate was for 20 cents.

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TheStreet Ratings team rates NVIDIA CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate NVIDIA CORP (NVDA) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, reasonable valuation levels, increase in net income and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."

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