Although we're getting out of the current earnings season, results are continuing to trickle in. Several companies reported their latest after market close today -- arguably the most prominent of these was NVIDIA (NVDA 3.55%).

Outside of that, a controversy brewing at an embattled conglomerate produced an interesting after-hours news item.

A NVIDIA graphics processing unit (GPU).

Image source: NVIDIA.

NVIDIA Q2: A good quarter despite declines

Investors seem satisfied with NVIDIA's Q2 of fiscal 2020 performance, even though the company saw notable declines on both the top and bottom lines.

For the quarter, NVIDIA's revenue amounted to $2.58 billion, down 17% from the $3.12 billion the company reaped in the same quarter last year. Non-GAAP (adjusted) net profit came in at $762 million ($1.24), a 37% drop.

Yet both line items were higher than the average analyst estimates. These were for $2.55 billion in revenue and $1.15 in per-share adjusted net profit.

The revenue and profitability slides were expected due to weakness in cryptocurrency prices last year. (NVIDIA's products are widely used in cryptocurrency mining.)

The company proffered revenue guidance for its current Q3; in contrast to trailing results, this came in under expectations. NVIDIA estimates it will book revenue of $2.90 billion, plus or minus 2%. That's below the average analyst projection of $2.98 billion for the quarter. NVIDIA added that its adjusted gross margin should be 62% to 63%.

The company has significant potential. It is a major player in both the connected car segment and in the ever-burgeoning field of artificial intelligence.

Investors are aware of this and, combined with the top- and bottom-line beats, this is bringing the bulls into the stock. NVIDIA shares are up by over 5% in post-market trading tonight.

GE CEO loads up on company stock after publication of fraud accusation

Talk about taking advantage of a stock price swoon.

General Electric (GE 0.43%) CEO Larry Culp made a big purchase of his company's stock today, it was revealed in a regulatory filing published after market close. Culp bought $2 million worth of shares, at an average price of $7.93 apiece. All told, he bought 252,200 shares, bringing his total to over 1.18 million. He owns the stock through a holding company and family trusts.

The move comes on a day when GE suffered its most significant one-day stock loss in more than a decade. It fell by over 11% on the publication of a 175-page report by a forensic accountant who charges the storied conglomerate with fraud.

Author Harry Markopolos, known for his role in uncovering the Bernie Madoff Ponzi scheme, alleges in the report that the company's fraudulent activities amount to $38 billion. He adds that they are "far more serious than either the Enron or WorldCom accounting frauds," referring to two corporate scandals that rocked the business world around the turn of this century.

GE fired off a press release response to Markopolos' accusations. Calling them "meritless" and "unsubstantiated," the company said that it "operates at the highest level of integrity and stands behind its financial reporting."

To put it mildly, given these developments, extreme caution is warranted with GE stock. Nevertheless, shares are recovering somewhat in the after-market hours; they're up by 2%.