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.

read original article at http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=57A7BA73129144AB83E89121A5B8C6EA&url=https%3a%2f%2fwww.morningstar.com%2fnews%2fdow-jones%2f202002147039%2fnvidia-shares-rise-in-premarket-trading-after-strong-earnings-report&c=2605682576730061165&mkt=en-us

Do NOT follow this link or you will be banned from the site!