NVIDIA reports $172.2 million profit for fiscal Q2

Posted on Friday, August 10 2007 @ 15:30 CEST by Thomas De Maesschalck

NVIDIA announced better-than-expected financial results yesterday. The company posted a net income of $172.7 million for its second fiscal quarter, up from $86.8 million a year ago. Total revenue increased 36% from $687.5 million last year to $935.3 million.

Nvidia said its quarterly profit nearly doubled -- breezing past Wall Street expectations -- as the company gained market share for the graphics semiconductors it sells to personal computers makers.

"Our ongoing strategy to extend the reach of the (graphics microprocessor) is paying off," said Nvidia Chief Executive Jen-Hsun Huang said in a statement.

The Santa Clara, California-based company cited a broadening use of graphics processor intense computer programs, such as video and photo editing software, video games and three-dimensional maps, used by consumers.

Sales of Nvidia's desktop graphics processors rose 37 percent from a year ago, while sales of notebook graphics processors surged 129 percent.

Analysts expected, on average, a profit of 34 cents a share, according to Reuters Estimates, on revenue of $859.8 million.

NVIDIA also announced a 3-for-2 stock split.

Source: Reuters

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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