Nvidia passes $800 billion market cap following strong earnings report

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  • Shares of Nvidia were up more than 11% on Thursday morning, after beating the company’s earnings and sales expectations for the third quarter.
  • As of Thursday morning, Nvidia stock was up more than 124% to date.
  • Jim Cramer said it expected to become the next trillion-dollar company on Businesshala’s “Squawk on the Street.”

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Nvidia shares rose more than 11% on Thursday morning after the company beat earnings and sales expectations for the third quarter.

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The chip company reported adjusted earnings per share of $1.17 and revenue of $7.1 billion. Analysts were expecting earnings per share of $1.11 and revenue of $6.82 billion.

Earnings per share increased 60% year-over-year and revenue increased 50% compared to a year ago. Nvidia also said it expected $7.4 billion in revenue for the current quarter, beating the $6.86 billion estimated by analysts.

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As of Thursday morning, Nvidia stock was up more than 124% to date. On Businesshala’s “Squawk on the Street,” Jim Cramer said it expected to become the next trillion-dollar company. The increase in the share price on Thursday pushed its market cap to more than $800 billion.

The company saw data center sales increase by $2.9 billion, up 55% from the year-ago quarter. More customers are looking to Nvidia’s chips for artificial intelligence applications such as understanding human speech, Written by Nvidia CFO Colette Kress,

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