Nvidia exceed analyst expectations

Nvidia have reported quarterly results which look very healthy indeed, exceeding analyst expectations. Their profit has more than doubled compared against the same period a year ago.

They reported sales of $1.07 billion for the quarter which ended October 30th, up 4.9 percent from the previous quarter. This is up 26.3 percent from the same time, a year ago. They reported (GAAP) a net income of $178.3 million, up 17.6 percent from the previous quarter and 110 percent from the same period, last year.

Yahoo Finance report that Nvidia sales and non GAAP earnings exceeded consensus analysts expectations of $1.06 billion.

Their GAAP gross margin was recorded at 52.2 percent for the quarter which is a fifth consecutive quarterly record, up from 51.7 percent in the previous quarter.

Jen Hsun Huang said “Our GPU business accelerated in the third quarter, driven by strong demand from gamers and the professional market. And our mobile business benefited from new devices coming onto the market.” He added that they are expecting strong growth over the next year.

Kitguru: Its good to be green right now.

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