Jen-Hsun Huang, CEO, Nvidia
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Check out the companies making headlines after the bell:
Shares of Nvidia jumped as much as 7% after the chipmaker announced better-than-expected second-quarter earnings. The company reported adjusted earnings per share of $1.24 on revenue of $2.58 billion. Analysts had expected earnings per share of $1.15 on revenue of $2.54 billion, according to Refinitiv. Nvidia’s biggest segment, gaming, produced $1.31 billion in revenue, which was slightly above the $1.30 billion consensus estimate among analysts surveyed by FactSet.
Applied Materials rose 1.8% in after-hours trading after the semiconductor company announced its third-quarter earnings. The company reported adjusted earnings per share of 74 cents on revenue of $3.56 billion. Analysts expected earnings per share of 70 cents on revenue of $3.52 billion, according to Refinitiv. Gary Dickerson, president and CEO, said going forward the company is “fully funding our R&D programs to develop new products and capabilities”.
Shares of General Electric climbed 3% after an SEC filing revealed CEO Larry Culp bought nearly $2 million worth of the conglomerate’s shares. The disclosure comes after Madoff whistleblower Harry Markopolos published a 175-page report calling GE “a bigger fraud than Enron.”