Nvidia Corp. (NASDAQ:NVDA) surged over 10 percent after hours Thursday after the company posted profits and sales that beat analyst expectations. Nvidia reported fiscal q3 2017 EPS of 83 cents on revenue of $2 billion. Analysts expected 57 cents per share on sales of $1.69 billion. The chipmaker increased its quarterly dividend by 22 percent to 14 cents per share and increased its buyback program by $2 billion.
Founder and CEO, Jen-Hsun Huang said, “We had a breakout quarter – record revenue, record margins and record earnings were driven by strength across all product lines.” “Our new Pascal GPUs are fully ramped and enjoying great success in gaming, VR, self-driving cars and datacenter AI computing,” he said.
As of today, Nvidia is the best performing stock in the S&P500 year to date, up over 100 percent.