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.
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.