Nvidia exceeded Wall Street expectations for April-June quarter

.

Nvidia exceeded Wall Street expectations for April-June quarter

Chip-maker Nvidia recently reported its earnings for the April-June quarter; with the figures posted by the company surpassing Wall Street expectations. The company's quarterly performance was notably strong in its desktop, workstation, and particularly server businesses; though its Tegra business witnessed a disquieting plunge.

According to the figures reported by Nvidia, the company's profit during the second quarter was $96.4 million, or 16 cents per share; with its quarterly revenue being $977.2 million. Despite the fact that Nvidia's profit and revenue figures dropped 19 percent and 6.4 percent respectively year-on-year, the figures still managed to exceed Wall Street's lowered estimates.

The earnings' estimates for Nvidia had apparently been lowered by analysts because the company had already warned that its Tegra 4 processors will not arrive in the markets on schedule.

The company had said in April that it had adjusted its Tegra mobile chip schedule in an attempt to bring in the Tegra 4i mobile chip which also integrates LTE baseband technology. The move resulted in a $52.6 million drop in Nvidia's Tegra revenue during the quarter.

Meanwhile, noting that Nvidia's "GPU business continued to grow" and helped the company in reporting "fourth consecutive quarter of record margins," Jen-Hsun Huang - Nvidia's president and CEO - said that the April-June quarter also witnessed the company commence the shipping of GRID virtualized graphics. Huang also added that Nvidia is hopeful of a "strong second half."


Latest News

Nebraska Gov. Ricketts and Lt. Gov. Foley to Traveling to Japan in Trade Mission
Fennica , the Icebreaker Leaves for Arctic Waters as Portland Police Remove Prot
PPIC’s Poll Reveals Californians Divided in Opinion on Climate Change Impacting
Chairman Says the Boeing Company May have to Move Some Operations Overseas if Ex
Facebook Second Quarter Earnings Surpass Analysts’ Expectations but Growing Expe
Overcharging Scandal Takes a Toll on Whole Foods Earnings
Yelp Trims Third Quarter Earnings Forecast Also Announces Departure of Its Chair
Solvay, the Belgian Chemical Group to Acquire U.S. Cytec for $5.5 billion
Reports Say Amazon Suggests Dividing Airspace into Zones for Delivery Drones
Federal Reserve Expected to Stay Focused on Rate Hike Plan in September
Oil Prices Drop Near Four-Month Low as Supply Glut and Chinese Economy Increases
Reportedly A.G. Lafley to Pass Reigns of P&G CEO to David Taylor