Earnings

Nvidia stock rises as it sees better-than-expected first quarter

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A sign is posted in front of the NVIDIA headquarters on May 10, 2018 in Santa Clara, California.

Justin Sullivan/Getty Images

Nvidia stock closed up 5.62% on Monday after the company announced several new products and told investors that it expected its first-quarter income to surpass previous estimates.

Nvidia said revenue in its fiscal first quarter, which ends in May, is likely to be higher than $5.3 billion, which was its previous estimate for investors from February.

Analysts polled by Refinitiv previously expected that Nvidia would report $5.32 billion in sales in the quarter.

“While our fiscal 2022 first quarter is not yet complete, Q1 total revenue is tracking above the $5.30 billion…



Source cnbc.com

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