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SMALL BUSINESS
Nvidia says profit jumps 74 percent in 3Q
AP
NEW YORK -Graphics chip maker Nvidia Corp. said consumer demand is healthy and improving as it reported a 74 percent jump in third-quarter profit.
The Santa Clara, Calif.-based company reported Thursday that it earned $107.6 million, or 19 cents a share, for the three months that ended Oct. 25. Revenue rose less than 1 percent to $903 million but the company said it saw improvement in each of its PC, professional services and consumer businesses.
The results easily beat estimates of analysts surveyed by Thomson Reuters, who were expecting a profit of 10 cents a share on revenue of $838 million.
In the final three months of the year, Nvidia said it expects revenue to grow 2 percent from the third quarter, implying sales of $921.1 million, which would beat analysts' current forecast of $868.1 million.
Operating expenses are forecast to be about $305 million.
Company shares added 78 cents, or 6.4 percent, to $13.05 in after-hours trading, having closed earlier up 29 cents at $12.27.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-11-05 18:00:37
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