Nvidia’s Whooping High Profits

Nvidia’s Whooping High Profits

It has been recently revealed that Nvidia Corp, the chip maker has posted a profit more than what was expected according to the analysts. It has been able to garner profit levels that are double of what it had posted last year.

It has also been able to garner gross margins for the fifth time in a row. It was revealed that the firm reported sales of about $1.07 billion for the quarter that ended on 30th of October. This is more than 4.9% higher than what it was in the last quarter and 26.3% more than what it had been the same time last year.

It was also revealed that the net income for the company was $178.3 million. It means that the net income is now 110% higher than what it had been last year.

Nvidia also set records by earning more than what had been predicted by the analysts.

"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”, revealed Jen-Hsun Huang, the CEO and President of the firm.

All this has been after the launch of the new handset design that has come like a buzz and is taking the markets by storm due to its unique features. These include the Tegra 3 Professor. The firm is also of the view that the next few months to come are going to be strong for the firm and they shall son be able to incur more profit and achieve greater heights with the help of its new products and efficient business plans.