Nvidia Shares Rise in Premarket Trading After Strong Earnings Report

By Colin Kellaher

 

Shares of Nvidia Corp. rose more than 6% in premarket trading Friday after the graphics chip maker posted fiscal fourth-quarter results that topped Wall Street’s expectations and said its first-quarter revenue would also exceed estimates.

The Santa Clara, Calif., company got a boost from strong gaming revenue and record sales to data centers that use its hardware in artificial-intelligence calculations.

Analysts at Susquehanna International Group raised their price target on the company’s shares to $330 from $310, saying Nvidia’s data-center AI story “is back on track.”

Nvidia shares, which closed Thursday at $270.78, were up 6.4% to $288.09 in premarket trading Friday.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

February 14, 2020 06:42 ET (11:42 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.


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