Nvidia Q3 profits soar 74%

Profits jump ahead of analyst expectations
Author:
Publish date:
6_Nvidia Inside.jpg

Nvidia has beaten city expectations by reporting a third-quarter profits jump of 74 per cent.

Key to that success was the firm’s encouraging sales of PC graphics cards, which saw 25 per cent growth from the previous quarter.

Chief Executive Jen-Hsun Huang said the company saw "healthy market demand across the board."

Nvidia saw profits reach $107.6 million for the third quarter, a significant rise from the $61.7 million profit made in the previous period.

The firm’s revenues reached $903 million, way ahead of Nvidia’s expectation of $815-830 million, which itself was above analyst estimates.

Now Nvidia expects revenue to climb 2 per cent to hit $921. Analysts are again pessimistic, pinning their predictions to an average sum of $868 million.

“Revenue was up from a year ago,” Huang told investors, “with improvement in each of our PC, professional solutions and consumer businesses.”

Huang also cited the firm’s new Tegra tech as part of the firm’s growth strategy.

“It's great to see us shipping orders with our Tegra mobile-computing solution, and growing enthusiasm for our Tesla platform for parallel computing in the server and cloud-computing markets."

Related