Graphics processor technology company Nvidia has reported a 36% increase in revenues to $1.12 billion for its third quarter of fiscal 2008, having been boosted by the strong performance of its desktop and notebook GPU product lines.
The company’s operating profit increased to $247.8m in Q3 2008 compared to $117.6m in the previous year. Its net profit was up 121% to $235.7m compared to $106.5m. Diluted earnings per share were $0.38, an increase compared to $0.18 in 2007.
For the nine months ended October 2007, revenues were $2.9 billion, an increase of 32% compared to $2.19 billion recorded for the same period in 2006. The net income for the nine months was $540.7 million or $0.89 per diluted share compared to $285.3 million or $0.50 per diluted share for the previous year.
The GeForce desktop product lines reported a year-on-year growth of 33% and the notebook GPU product line grew at 120%. The Quadro professional solutions business achieved a year-on-year growth rate of 37%.
Our core businesses are continuing to grow as the GPU becomes increasingly central to today’s computing experience in both the consumer and professional market segments, said Jen-Hsun Huang, president and chief executive at Nvidia.
Nvidia launched seven new Quadro solutions during the quarter, including Quadro FX 370 and 570. It also began shipping the Tesla C870 GPU computing processor and D870 desk-side supercomputer products.
The company’s competitor AMD released its Q3 earnings for the period ended September 2007. AMD reported revenues of $1.63 billion an increase of 23% compared to the same period in 2006.The operating loss was $226m compared to an operating profit of $121m in the previous year. In addition, it reported a net loss of $396m compared to a net profit of $136m for the same period in 2006.
Source: ComputerWire daily updates