Published in News
Nvidia posts record revenue
Surprises Wall Street
Nvidia has published its third quarter earnings and the results are impressive to say the least. With record revenue of $1.2 billion, Nvidia’s net income in Q3 was $209.1 million (GAAP).
Quarterly revenue is up 12.9 percent year-over-year and represents a 15.3 percent sequential bump, beating analyst expectations. However, Nvidia expects its revenue to dip to between $1.02 and $1.17 billion in the fourth quarter.
The company blames the projected slump on a declining PC market. It seems Nvidia does not expect Windows 8 will have a very positive impact on the PC market.
Nvidia CEO Jen-Hsun Huang issued a statement, saying that Nvidia’s investment in “new growth strategies” paid off in Q3. Huang is obviously referring to Nvidia’s Tegra business, which is doing quite well in the tablet space.