Nvidia Shares Rise on Higher Than Expected Revenue in 1Q

By Adriano Marchese

Shares in NVIDIA Corp. rose in late trading on Monday after the company said it expects revenue in the first quarter of fiscal 2022 to be above its previous outlook, benefiting from outperformance in each of its market platforms.

At 2:22 p.m. EST, shares were up 6.1% at $611.11.

The technology company said it is experiencing a broad-based strength in the period ending May 2, and that revenue is tracking above the $5.3 billion outlook provided in late February.

"We expect demand to continue to exceed supply for much of this year. We believe we will have sufficient supply to support sequential growth beyond the first quarter," Chief Financial Officer Colette Kress said.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

April 12, 2021 14:42 ET (18:42 GMT)

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