Shares of Nvidia Corp. (NASDAQ:NVDA)N took off in after-hours trading, rising past $1,000 in reaction to the company’s quarterly results.
What Happened: The chipmaker reported first-quarter results that beat elevated expectations and issued an above-consensus second-quarter revenue guidance. The company also announced a 150% quarterly dividend hike to 10 cents per share and a 10-for-1 stock split.
Following the results and positive management commentary on the earnings call, the stock broke above the previous high of $974 in the after-hours session and went past the psychological resistance of $1,000. After-hours quotes are only indicative values and it remains to be seen if the stock can sustain the after-hours gain when it opens for trading on Thursday.
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