Nvidia has reported better-than-expected earnings and revenue for the fiscal first quarter, leading to a 26% surge in its shares during extended trading. The company’s strong performance was driven by demand for its GPUs in data centres and gaming markets. However, cloud computing company Snowflake’s shares tumbled 11% after it provided weaker-than-expected product revenue guidance for the fiscal second quarter. Despite this, both companies’ quarterly earnings results reflect the continued growth of the technology sector.
Nvidia shares soar 26% after strong earnings report
Nvidia shares surged 26% in extended trading after the artificial intelligence company reported better-than-expected earnings and revenue for the fiscal first quarter. However, Snowflake shares fell 11% after providing weaker-than-expected product revenue guidance for the fiscal second quarter.
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