Nvidia Shares Rise in Premarket Trading After Strong Earnings Report
February 14 2020 - 6:57AM
Dow Jones News
By Colin Kellaher
Shares of Nvidia Corp. rose more than 6% in premarket trading
Friday after the graphics chip maker posted fiscal fourth-quarter
results that topped Wall Street's expectations and said its
first-quarter revenue would also exceed estimates.
The Santa Clara, Calif., company got a boost from strong gaming
revenue and record sales to data centers that use its hardware in
artificial-intelligence calculations.
Analysts at Susquehanna International Group raised their price
target on the company's shares to $330 from $310, saying Nvidia's
data-center AI story "is back on track."
Nvidia shares, which closed Thursday at $270.78, were up 6.4% to
$288.09 in premarket trading Friday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 14, 2020 06:42 ET (11:42 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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