Nvidia stock pops 4% after results, guidance top estimates

Nvidia (NVDA) reported its fiscal first quarter earnings after the bell on Wednesday, beating Wall Street’s expectations on both the top and bottom line and announcing a 10-for-1 stock split set to take effect June 7. The company also announced it is raising its dividend from $0.04 per share to $0.10.

The company saw adjusted earnings per share (EPS) for the quarter of $6.12 on revenue of $26 billion, a jump of 461% and 261%, respectively, from a year ago.

Analysts were expecting Adj. EPS of $5.65 on revenue of $24.69 billion, according to data from Bloomberg. The company reported adjusted EPS of $1.09 on revenue of $7.19 billion in the same quarter last year.

In the current quarter, Nvidia expects revenue of $28 billion plus or minus 2% in the coming quarter. That’s better analysts had expected.

Nvidia stock rose as much as 4% in extended trading on Wednesday.

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