06:14 AM EDT, 05/23/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

Nvidia's ( NVDA ) shares were up 6.7% in premarket activity on Thursday after the company beat fiscal Q1 earnings and sales expectations.

The company reported fiscal Q1 non-GAAP earnings late Wednesday of $6.12 per diluted share, up from $1.09 a year earlier.

Analysts polled by Capital IQ expected $5.58.

Revenue for the quarter ended April 28 was $26.04 billion, up from $7.19 billion a year earlier.

Analysts surveyed by Capital IQ expected $24.59 billion.

The company said it expects Q2 revenue of $28.0 billion, plus or minus 2%.

Analysts polled by Capital IQ expect $26.84 billion.

Price: 1,013.20, Change: +63.70, Percent Change: +6.71