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.
More here.
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