Nvidia Q2 Earnings Results: NVDA pops to $515 on significant beat on earnings, revenue

stock popped nearly 10% late Wednesday after walloping second-quarter consensus by a wide margin. The leading semiconductor designer reported adjusted earnings per share of $2.70 – 29% than Wall Street expected. Likewise, revenue of $13.51 billion was 22% ahead of consensus.

Nvidia stock closed up 3.17% in the regular market, closing at $471.15. Based on the closing price, NVDA stock is up 229% YTD.Nvidia is the leading fabless designer of graphics processing units or GPUs. These sophisticated devices allow computers to better process graphics for display interfaces by accelerating computer memory and RAM. This is especially true in the world of video games, where Nvidia graphics cards became a mainstay of the industry.

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