Arm Holdings PLC (NASDAQ:ARM) stock is surging on Thursday, primarily driven by blowout second-quarter earnings from NVIDIA Corporation (NASDAQ:NVDA) that ignited a broad rally across the semiconductor sector. Nasdaq futures are up 0.93% while S&P 500 futures have gained 0.41%.
Nvidia Earnings Beat
Nvidia reported second-quarter revenue of $96.22 billion, up 106% year-over-year, beating the Street consensus estimate of $92.18 billion.
Adjusted earnings per share came in at $2.22, topping consensus estimates of $2.10. Data Center revenue surged 117% year-over-year to $89.0 billion.
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