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KB3001
Not sure about the long term prospects of NVidia. They need to make inroads into ...
goafrit
Good news that this company is not living under the cloud of Intel. Good for ...
Nvidia sees growth, 'business as usual' in Q3
Dylan McGrath
8/12/2011 3:13 AM EDT
SAN FRANCISCO—While a number of chip companies have suggested that demand softness could lead to third quarter sales that are flat with or down from the second quarter, Nvidia Corp. said Thursday (Aug. 11) it expects to report sequentially better third quarter sales, with its chief executive saying the quarter is setting up as business as usual.
"The first part of the quarter looks pretty good," said Jen-Hsun Huang, Nvidia president and CEO, following the company's better-than-expected second quarter financial report.
"And bookings look strong. We don't see anything unusual across the world."
Nvidia (Santa Clara, Calif.) reported second quarter sales of $1.02 billion, up 5.7 percent compared to the previous quarter and up 25.3 percent compared with the year-ago quarter. The company posted a net income in accordance with generally accepted accounting principles (GAAP) of $151.6 million, or 25 cents per diluted share, up from a GAAP net income of $135.2 million in the previous quarter and a GAAP net loss of $141 million in the year-ago quarter.
On a non-GAAP basis, excluding stock-based compensation and other charges, Nvidia reported a net income of $193.5 million, or 32 cents per diluted share, up from a non-GAAP net income of $165.7 million in the previous quarter and a non-GAAP net income of $47.6 million in the year-ago quarter.
Nvidia's second quarter results came in ahead of consensus analysts' expectations, which called for the company to report sales of $1.01 billion and a non-GAAP net income of 25 cents per share.
Karen Burns, Nvidia's interim chief financial officer, said much of Nvidia's second quarter growth was driven by a seasonal increase in game console royalties from Sony Corp. Nvidia's professional business sales were up 4.2 percent over the prior quarter, Burns said.
Burns described revenue from Nvidia's Tegra applications processor as "steady," as product ramps from the first quarter hit store shelves. Revenue derived from Nvidia's recent acquisition of baseband maker Icera was not significant, Burns said.
For the fiscal third quarter, Nvidia said it expects sales to increase 4 to 6 percent to between $1.058 billion and $1.078 billion.
"The first part of the quarter looks pretty good," said Jen-Hsun Huang, Nvidia president and CEO, following the company's better-than-expected second quarter financial report.
"And bookings look strong. We don't see anything unusual across the world."
Nvidia (Santa Clara, Calif.) reported second quarter sales of $1.02 billion, up 5.7 percent compared to the previous quarter and up 25.3 percent compared with the year-ago quarter. The company posted a net income in accordance with generally accepted accounting principles (GAAP) of $151.6 million, or 25 cents per diluted share, up from a GAAP net income of $135.2 million in the previous quarter and a GAAP net loss of $141 million in the year-ago quarter.
On a non-GAAP basis, excluding stock-based compensation and other charges, Nvidia reported a net income of $193.5 million, or 32 cents per diluted share, up from a non-GAAP net income of $165.7 million in the previous quarter and a non-GAAP net income of $47.6 million in the year-ago quarter.
Nvidia's second quarter results came in ahead of consensus analysts' expectations, which called for the company to report sales of $1.01 billion and a non-GAAP net income of 25 cents per share.
Karen Burns, Nvidia's interim chief financial officer, said much of Nvidia's second quarter growth was driven by a seasonal increase in game console royalties from Sony Corp. Nvidia's professional business sales were up 4.2 percent over the prior quarter, Burns said.
Burns described revenue from Nvidia's Tegra applications processor as "steady," as product ramps from the first quarter hit store shelves. Revenue derived from Nvidia's recent acquisition of baseband maker Icera was not significant, Burns said.
For the fiscal third quarter, Nvidia said it expects sales to increase 4 to 6 percent to between $1.058 billion and $1.078 billion.
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goafrit
8/12/2011 9:29 PM EDT
Good news that this company is not living under the cloud of Intel. Good for them.
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KB3001
8/13/2011 7:18 AM EDT
Not sure about the long term prospects of NVidia. They need to make inroads into the mobile chip segment as I do not think they have much future in high end discrete graphics solutions. They describe their Tegra chip sales as "steady" however. That's not good enough IMO...
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