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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

By Trace Hagan | May 9, 2013 07:08 pm CDT

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.

Trace Hagan

ABOUT THE AUTHOR - Trace Hagan

Trace is a starving college student studying Computer Science. He has a love of the English language and an addiction for new technology and speculation. When he's not writing, studying, or going to class, he can be found on the soccer pitch, both playing and coaching, or on the mountain snowboarding.

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