NVIDIA shares were up nearly 9 percent in after-hours trading following its announcement of a beat in FY 2016 Q2 earnings Thursday.
The computer component manufacturer managed to exceed street expectations on revenue with $1.153 billion while posting non-GAAP earnings of $0.34 per share, up 13 percent from a year ago. Analysts had looked for Nvidia to generate $0.20 per-share profit on top line of $1.01 billion.
“Our strong performance in a challenging environment reflects NVIDIA’s success in creating specialized visual computing platforms targeted at important growth markets,” Jen-Hsun Huang, CEO of NVIDIA, said in the report.
The Santa Clara, CA-based tech company has generally reported healthy earnings but posted a rare miss this past quarter and has seen its share price slump a bit over the past three months.
Nvidia credited its beat Thursday to growth in its gaming tech and auto divisions.
“Our gaming platforms continue to be fueled by growth in multiple vectors – new technologies like 4K and VR, blockbuster games with amazing production values, and increasing worldwide fan engagement in e-sports. We’re working with more than 50 companies that are exploring NVIDIA DRIVE to enable self-driving cars. And our GPU-accelerated data center platform continues to make great strides in some of today’s most important computing initiatives – cloud-based virtualization and high performance computing applications like deep learning.