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Nvidia Corp shares on the uptick after third quarter results beat market consensus

Last updated: 07:26 10 Nov 2017 EST, First published: 02:26 10 Nov 2017 EST

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Shares on the uptick after market beating third quarter results

Nvidia Corp.(NASDAQ:NVDA) shares were on the uptick, following on from the gains seen late yesterday after the company posted impressive, market-beating third quarter results.

The graphic processing unit maker said in the third quarter, net income came in at US$838mln or US$1.33 a share, compared with US$542mln or 83 US cents a share, a year ago.

READ: Nvidia dips as Elon Musk hints Tesla could drop chipmaker’s technology from its electric cars

Revenue during the same period shot up to US$2.64bn from the US$2bn recorded a year ago.

The market was forecasting 95 US cents on revenue of US$2.36bn.

Nvidia is now guiding fourth quarter revenues at US$2.65bn, plus or minus 2 percentage points, or US$2.6bn - US$2.7bn.

READ: Nvidia heads higher as it strikes supply deals with several Chinese computing giants

Wall Street’s consensus for the fourth quarter is US$2.44bn.

In premarket, its shares were up 4.91% at US$215.40.

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