Nvidia reported earnings of $1.24 per share, beating analyst expectations of $1.15 per share. Nvidia reported group revenue of $2.58 billion, just ahead of analysts' forecasts of $2.55 billion.
"We're happy with our results this quarter and our return to growth across our platforms. Gaming is doing great. It's great to see NVIDIA RTX reinvigorating the industry. GeForce has several growth drivers," Jensen Huang, CEO, told investors on a conference call Thursday. "Ray traced games continue to gain momentum. A large number of gaming laptops are rolling out, and our new Studio platform is reaching the largely underserved community of creators."
When asked what senior portfolio analyst with Action Alerts PLUS Jeff Marks is watching, he replied:
"I really liked what I saw from gaming. So again, it was, it was a much healthier trend than what we were seeing the last couple quarters where they had that kind of crypto inventory channel issue. But, it was an acceleration. Really strong quarter over quarter and there's a lot to look forward to in the second half of the year. You have a production ramping for the Nintendo Switch. You have some China gaming trends a little bit better."
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