Nvidia shares close down 1.77% after beating earnings expectations with $81.615 billion quarterly revenue, up 85% year over year

Nvidia reported first-quarter revenue of $81.615 billion, up 85% year over year, exceeding analyst estimates of $78.796 billion. Adjusted earnings were $1.87 per share, beating expectations of $1.76 per share.

The company issued second-quarter guidance forecasting revenue between $89.18 billion and $92.82 billion, above Street estimates of $86.62 billion. Nvidia shares closed down 1.77% at $219.51 on Thursday despite the strong results.

Gene Munster, managing partner at Deepwater Asset Management, characterized post-earnings trading as 'noise' that tells us 'almost nothing about the actual fundamentals.' Jim Cramer stated 'There's no breaking this Nvidia pattern. It's all about the between earnings period now.'