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Nvidia suffers low revenue

But better than expected  

Nvidia confused the cocaine nose-jobs of Wall Street by posted first-quarter earnings and revenue above expectations.

According to VentureBeat the Santa Clara, California, chipmaker reported first-quarter revenue rose to $954.7 million which was slightly down from $924.9 million in the year-ago quarter. However it was not all rosy. The company said that its revenue in the current quarter would be $975 million, plus or minus 2 percent analysts had predicted revenues of $941 million for the quarter ended in April and $1.0 billion for the quarter ending in July.

Nvidia’s first-quarter net income was $77.9 million compared to $60.4 million at the same time last year. Nvidia had a record GAAP gross margin of 54.3 percent and non-GAAP gross margin of 54.6 percent in the quarter. It said current-quarter gross margins would be about the same.

Analysts say that gross margins are moving up thanks to Nvidia’s higher exposure to workstations and server markets. These make the company a lot more cash than a PC graphics card.

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