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Investing.com – Nvidia stock (NASDAQ:NVDA) traded 1% higher in Thursday’s premarket as the company’s second-quarter results topped estimates and the company officials predicted higher prices for its gaming chips.
Second-quarter revenue from sale of gaming chips was a record $3.06 billion, up 85% from a year earlier as consumers bought more devices and spent more time playing online games.
Revenue from the company’s data-center segment also hit a record as Cloud services boomed and demand for the company’s AI software rose. Second-quarter data-center revenue touched $2.37 billion, up 35%.
Nvidia’s $6.51 billion revenue in the second quarter topped analysts’ estimate of $6.32 billion. Adjusted earnings per share of $1.04 were also higher than the estimated $1.02.
The chipmaker estimates revenue in the ongoing quarter to come in at $6.80 billion, plus or minus 2%.
The company management also expressed confidence in securing regulatory approvals for its proposed $40 billion acquisition of rU.K.-based chip designer ARM, despite reports that it may take until the end of next year to gain clearance from Chinese antitrust authorities, and despite ongoing concern in U.K. political circles about the national security implications.
