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Nvidia up on earning beat

Nvidia is slated to report third quarter earnings after the bell Thursday.

Here's how the company did compared with what Wall Street expected:

  • EPS: $1.33 cents vs. 94 cents expected according to Thomson Reuters
  • Revenue: $2.64 billion vs. $2.36 billion expected according to Thomson Reuters

Analysts forecast double-digit growth in revenue and earnings year over year, representing a slowing in the chipmaker's record-setting run.

Estimates for revenue and EPS represent an 18 percent increase and 14 percent increase, respectively, from the previous year, according to Thomson Reuters.

Last quarter the company reported a 56 percent jump in revenue and a 124 percent spike in EPS year over year.

Investors will be watching for improved results on datacenter revenue in the third quarter. The revenue segment, which includes sales of GPUs to public cloud providers like Amazon Web Services, saw 175 percent growth year over year in the second quarter, but still missed Wall Street estimates.

The company staked a claim in the competitive chip market with impressive graphics and gaming capabilities, but has recently broadened its reach with hardware specifically designed for autonomous driving and mining cryptocurrency.

Shares were up more than 190 percent on the year ahead of the earnings report, making it the best performing stock in the S&P 500 for much of the year.

This is a developing story. Please check back for updates.