Nvidia Revenue Surges 85 Percent to $81.62 Billion

Nvidia reported fiscal second-quarter revenue of $81.62 billion, marking an 85% increase year over year. The company's earnings per share exceeded market estimates, and it provided strong forward guidance for future performance.

Following the announcement, Nvidia stock rose 8.7% on Thursday. However, the share price remains below its all-time high of $236.54, which was established on May 14.

Despite the company's growth, the broader semiconductor sector did not see a corresponding breakout. Both the VanEck Semiconductor ETF and the State Street SPDR S&P Semiconductor ETF closed below their 50-day moving averages. Market analysts observed that Nvidia's gains single-handedly kept the S&P 500 in positive territory on Thursday, a day when approximately 70% of the index's constituents declined.