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Nvidia reports record revenues for Q3

BusinessNews
by Oluseun Alufa
, 09 Nov 2012News
Nvidia reports record revenues for Q3

The graphics processor powerhouse Nvidia has announced record revenues in the year's third quarter, to the tune of $1.2 billion (£752.6 million) - an increase of 12.9 per cent from the corresponding period last year and a 15.3 per cent jump from the previous quarter.

The company’s profits grew to $209 million (£131 million) as consequence of the strong performance of its Tegra 3 processor, which powers big-name tablets like Microsoft’s Surface with Windows RT and the Google Nexus 7.

“Investments in our new growth strategies paid off this quarter in record revenues and margins. Kepler GPUs are winning across the special-purpose PC markets we serve, from gaming to design to supercomputing. And Tegra is powering some of the most innovative tablets, phones and cars in the market,” said Nvidia president and CEO Jen-Hsun Huang.

"The Nexus 7 is selling super-well and the Surface and the Win RT devices are really exciting," Huang added.

The Tegra's success prompted Nvidia's consumer products department to grow 28 per cent year-on-year, accounting for a fifth of the company's overall business.

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