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 email@example.com
(END) Dow Jones Newswires
April 12, 2021 14:42 ET (18:42 GMT)
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