Chipmaker Nvidia's quarterly revenue beats Street

By @ibtimes on

Nvidia posted better-than-expected first-quarter revenue of $962 million, down 3.97 percent as it faces pressure in the personal computer graphics chip market and races to build its mobile business.

Shares of Nvidia rose 3.4 percent in extended trade after closing up 3.17 percent at $20.50 on Nasdaq.

The company, a new player in the booming mobile market, reported GAAP net earnings of $135.2 million, or 22 cents a share, for the quarter ending May 1, compared with a net profit of $137.6 million, or 23 cents a share, in the year-ago period.

Analysts on average had expected first-quarter revenue of $947.8 million, according to Thomson Reuters I/B/E/S.

(Reporting by Noel Randewich; Editing by Richard Chang)

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