What’s Going On With Nvidia Stock After-Hours?
NVIDIA CorpNVDA shares are trading higher in Tuesdays after-hours session in sympathy withAdvanced Micro Devices IncAMD , which reported financial results showing strong data center growth. AMD Q3 Revenue:$5.57 billionmissesestimate of $5.62 billion AMD Q3 EPS:$0.67missesestimate of $0.68
Third quarter results came in below our expectations due to the softening PC market and substantial inventory reduction actions across the PC supply chain, saidLisa Su, CEO of AMD.
Despite the challenging macro environment, we grew revenue 29% year-over-year driven by increased sales of our data center, embedded, and game console products.
Related Link:AMD Q3 Earnings Highlights: Revenue And EPS Miss, Data Center Growth, Q4 Guidance And More
AMD said data center revenue jumped 45% year-over-year to $1.6 billion.
Nvidia is a data center powerhouse. In the companys most recent quarter, Nvidia reported data center revenue of $3.81 billion, which was up 61% year-over-year, according toBenzinga Pro.
Last week, Nvidia shares surged after hours afterMeta Platforms IncMETA raised its capital expenditures outlook, citing increased data center spending.
Nvidias chips are used in a variety of end markets, including data centers and high-end PCs for gaming and automotive infotainment systems.
NVDA Price Action:Nvidia has a 52-week high of $307.11 and a 52-week low of $108.13.
The stock was up 1.16% in after-hours at $137.01 at the time of publication.
Photo: courtesy of Nvidia.
