NVIDIA ($NVDA (+1,51 %) ) EARNINGS:

The chip maker beat expectations for sales and profit in its latest quarterly earnings report, released after the closing bell. But its shares sold off in after-hours trading, a sign that it didn't live up to the lofty expectations of investors who have piled into Nvidia stock this year on a wave of AI hype.

• Revenue came in at $35.1 billion, up from $18.12 billion in the year-ago quarter.
• Analysts were expecting $33.17 billion in sales, according to FactSet.
• Net income was $19.31 billion, compared with $9.24 billion a year ago. Analysts were expecting $17.45 billion.
• Current quarter revenue outlook is $37.5 billion, which would be a gain of about 6.8% from the just-reported quarter.