updated 08:02 pm EST, Thu November 8, 2012
Nvidia earns $209.1 million as tablet orders surge
Nvidia reported its fiscal third quarter earnings today, beating analysts' estimates on the back of growing tablet sales. The graphics processor maker claimed $1.2 billion in revenue for the third quarter, up 13 percent year-over-year, about what analysts had expected. The company's net income in the period, though, rose to $209.1 million, or 33 cents per share, where analysts had expected 30 cents per share.
Nvidia's Tegra processors are featured in Google's Nexus 7 tablet, which has seen strong and growing sales, as well as a number of tablets running Google's Android and Microsoft's Windows 8 operating systems. Strength in chip orders from manufacturers of those devices has helped Nvidia to weather a drop-off in orders from the struggling PC market.
Nvidia forecast that its revenue for the fourth quarter will rise to between $1.03 and $1.18 billion. The company will on December 14 begin paying out its first dividend, dispensing 7.5 cents per share and extending a $2.7 billion share-repurchase program through December 2014. Shares in the company closed up $0.07 today at $12.68.