NVidia Sees Revenues, Income Rise

Officials from graphics processor technology firm NVidia have released details of the company’s third quarter financial results, for the three months ended October 30th. During this time the company saw revenues rise by 13 percent, and profit by 152 percent. The company is now the third largest core logic supplier in the world, but its rivalry with ATI Technologies is set to continue in the next generation of consoles, as well as within the PC graphics card market. NVidia is producing the graphics technology for Sony's PlayStation 3 console, following Microsoft’s high-profile change of allegiance to ATi for its soon-to-launch Xbox 360. The company's revenues were posted at $583.4 million for the third quarter, compared to $515.6 million at the same time last year. Profit was $65.3 million, or $0.36 per diluted share, compared to $25.9 million, or $0.15 per diluted share, at the same time list year. "Two years ago, with gross margins in the high twenties, we set a corporate objective to achieve gross margins in the high thirties. Seven quarters later, we delivered," stated Jen-Hsun Huang, president and CEO at NVidia. "Looking ahead, with our GPU and MCP product families continuing to lead the competition, we expect significant growth in our desktop, notebook, and handheld businesses." During the third quarter the company also managed to regain a leadership share of 50 percent in the desktop GPU (graphics processing unit) market, finding success with its nForce 400 media and communications processor (MCP) and GeForce 6100 integrated GPU family.