Nvidia Shows a Significant Rise in Third-Quarter Earnings
The third-quarterly earnings of Graphics chip giant Nvidia have been reported to be more than that expected by analysts as a result of the increase in market shares and due to the chip designed for the tablet computers.
Previous year's statics exhibit that by the end of the third-quarter that is on October 28, the company stood with a net income of $178.3 million and it share was priced at 29 cents, in comparison this year, the company has accounted for net income of $209.1 million and 33 cents for a share.
In a statement, the Santa Clara, California-based Nvidia stated yesterday that there has been an increase in its revenue by 13% and the total has accounted to $1.2 billion. The analysts were suspecting that the price of the share will rise to 30 cents on sale of $1.2 billion.
A San Francisco-based analyst at BMO Capital Markets, Ambrish Srivastava, said, "Orders for Nvidia's Tegra chips used in Google Inc.'s and Microsoft Corp.'s new tablets are helping it sidestep a slump in demand for personal computers".
Daniel Berenbaum, a New York-based analyst at MKM Partners LLC, stated that the company has been able to gain market shares, while Tegra chips have performed well at the market level.
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