Shares of Nvidia (NVDA) rose roughly 4% in post-trading hours after reporting better-than-expected earnings and revenue on Wednesday.
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The AI powerhouse posted a 69% increase in revenue in the first quarter, compared to a year ago, with its data center business growing 73% year-over-year. Net income came in at $18.8 billion, up 26% from a year earlier.
The after-hours move pushed NVDA shares to a modest year-to-date gain and about a 20% year-over-year advance.
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and Internet Computer (CIP), moved slightly higher after Nvidia’s earnings beat, although remained sizably lower for the day. Nevertheless, it was ongoing AI demand which was a key driver in the 73% growth in the company data center business.
Turning to the outlook amid recent global trade uncertainties, Nvidia said it expects second-quarter revenue to come in below market estimates as a result of tariff-related restrictions between the U.S. and China.
