Nvidia Shares Surge 3 Percent After Topping Wall Street Estimates

The fourth-quarter earnings and forward guidance were ‘what investors wanted to see,’ says a portfolio manager.

The Nvidia office building in Santa Clara, Calif., on May 31, 2023. Jeff Chiu/AP Photo

Shares of chipmaker Nvidia surged 3 percent in after-hours trading on Feb. 26 after the tech juggernaut beat Wall Street expectations and issued strong guidance for the current quarter.

Nvidia revenues totaled $39.33 billion, higher than the market estimate of $38.05 billion. Earnings per share clocked in at $0.89, topping analysts’ forecasts of $0.84.