Nvidia Triples Quarterly Revenues, Income

Revenue climbed to $582.9 million, up from $240.9 million last year. Net income rose to $83.2 million (47 cents per share), from $26.7 million (16 cents a share) a year ago. These results were in line with what analysts had expected. Nvidia also raised guidance for the second quarter. No update was provided about the continuing arbitration between Nvidia and Microsoft. It was revealed last month that the two firms are locked in price dispute over the graphics processors Nvidia provides for the Xbox -- a deal that accounted for 22 percent of Nvidia's revenue in the first quarter. "I can only tell you we're working on [resolving the price dispute] as fast as we can and both parties are very focused on getting through it," CEO Jen-Hsun Huang said.