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NVIDIA's Q1 earnings better than expected, stock climbs in after-hours trading

NVIDIA reports profits of $77.9 million for first quarter

| Business, Financial & Legal News | Posted: May 10, 2013 12:08 am

NVIDIA has announced its first-quarter earnings. The earnings ended up beating out expectations, but still aren't as good as last quarters. NVIDIA pulled in a total of $77.9 million in profit, which is down 55 percent from last quarter. It is, however, up 29 percent year-over-year.

 

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Revenue came in at a total of $954.7 million. This follows the same trend as the profit: down from last quarter, up year-over-year. Tegra sales were down as NVIDIA works to transition to the newer Tegra 4. NVIDIA hopes Tegra 4 will power growth for the company this year.

 

Investors are happy with how NVIDIA is performing, along with their $1 billion buyback and dividend program. In after-hours trading, NVIDIA's stock has risen one percent to $14.05.

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