Nvidia: record increase in revenue

Nvidia has recorded a record increase in revenue in its second quarter results – a rise of 36 per cent year on year thanks to strong demand for its chips.

Nvidia said it has earned £172.7 million (£85 million) during the quarter – a figure that mean it had seen its profits almost double. Revenues also climbed during the quarter reaching $935.3 million (£462.6 million), up from $687.5 million (£340 million) in the previous year – an increase of 36 per cent.

It also revealed that demand for laptop components grew a staggering 127 per cent while its desktop also grew 37 per cent. It also predicted that it would see an increase of between 5 and 7 per cent on its third quarter – suggesting revenues of between $982 million (£485 million) and $1 billion (£495 million).