NVIDIA Records First Billion Dollar Quarter

The huge quarter marks the first time that a GPU company crossed the $1 billion USD threshold in a quarter.

The Santa Clara, Calif., company rang up $1.12 billion in sales in the three months ended October 28, a 19% sequential increae that crushed the company's own guidance of 5% to 7% growth as well as Wall Street's expectation of $1.01 billion.

The booming demand for graphics processors appears to have surprised Nvidia, which had cautioned that business might begin to cool in the third quarter.

Not only that, NVIDIA raised its outlook for the current quarter, with the stock rising 8.1%, or $2.76, to $36.60 in extended trading Thursday.  This occurred despite the huge sell-off in tech stocks on Thursday, including Apple and Google.


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Via:  TheStreet.com

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