Nvidia is happy, as the company has more than doubled its profit in Q3. Graphzilla earned $235 million, or 38 cents per share, vs. $106.5 million, or 27 cents per share at this time last year.
Nvidia did better than Wall Street had expected, as its shares went up 8.1 percent of $2.76 in extended trading Thursday. We are sure that Nvidia will go further up today as it closed at a disappointing $33.84, almost 5 percent down prior this announcement. Intel, AMD, Google and Apple went down at the same time, so this was something that hit all tech companies and set Google back below the $700 mark.
Chief Financial Officer, Marvin Burkett, told investors that Nvidia was largely able to overcome manufacturing limitations during Q3 but he confirmed that Nvidia cannot produce enough chips to meet demand.
Nvidia’s notebook graphics chips sales are up 120 percent year over year, while desktop sales increased by 33 percent. Nvidia has never done better and we expect that Q4 will be even better. You can read more about it here.