Artificial intelligence technology leader Nvidia (NVDA) late Wednesday beat Wall Street’s targets for its fiscal first quarter and guided higher than views for the current period. It also announced a 10-for-1 stock split. Nvidia stock rose in extended trading.
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The Santa Clara, Calif.-based chipmaker earned an adjusted $6.12 a share on sales of $26 billion in the quarter ended April 28. Analysts polled by FactSet had expected earnings of $5.60 a share on sales of $24.59 billion. On a year-over-year basis, Nvidia earnings rocketed 461% while sales blasted 262% higher.
Nvidia’s fiscal Q1 results marked its fourth straight quarter of triple-digit percentage growth in sales and earnings.
For the current quarter, Nvidia expects to generate sales of $28 billion, vs. the consensus estimate of $26.62 billion. In the year-earlier quarter, Nvidia posted sales of $13.51…
