Nvidia Q3 beats Street
Record sales - almost...
Nvidia came in ahead of analyst expectations when it announced a Q3 FY2006 net income of $65.3m (36 cents a share) on sales of $583.4m last night - just shy of the $583.8m record achieved in Q1 FY2006. That said, the company saw its profitability fall sequentially.
Wall Street had been anticipating earnings of 36 cents a share, but on the back of revenues totalling just $579.8m, according to estimates published by a number of news services.
The graphics chip maker's quarterly sales were up 13.2 per cent on the year-ago quarter's $515.6m and a more modest 1.5 per cent sequentially. Net income was up 152 per cent year on year, but down 12.7 per cent on the previous quarter.
Gross margin improved to 39.1 per cent, up 1.3 percentage points on the previous quarter. ®