Nvidia reaches record $1 billion quarter

Graphics specialist Nvidia has announced record results for the third quarter of 2008, with revenues reaching USD 1.12 billion, a 36 per cent increase compared to the USD 820.6 million it achieved for the same period last year.

Net income for the period ended October 28 was USD 235.7 million, up 121 per cent from the previous year of USD 106.5 million, with operating income up from USD 117.6 million to USD 247.8 million.

"We are very proud to have achieved our first billion dollar quarter," commented Jen-Hsun Huang, president and CEO of Nvidia.

"Our core businesses are continuing to grow as the GPU becomes increasingly central to today's computing experience in both the consumer and professional market segments."

"This is the era of visual computing and Nvidia is at the forefront. People want a delightful, compelling experience when they interact with their computing devices, whether it's on phone, notebook, game console or workstation," he added.