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Nvidia fourth-quarter revenue beats Street on higher chip demand

Published 02/17/2016, 04:46 PM
Updated 02/17/2016, 04:50 PM
© Reuters. File photo of a Nvidia computer for autonomous vehicles is displayed during the 2016 CES trade show in Las Vegas

(Reuters) - Chipmaker Nvidia Corp reported higher-than-expected quarterly revenue, helped by strong demand for its graphics chips used in gaming consoles and personal computers.

The company's shares rose 7.8 percent in after-hours trading.

Gaming revenue, which includes sales of its GeForce graphic processing units used in PCs, rose 25.4 percent to $810 million.

The company also forecast first-quarter revenue of $1.23 billion-$1.29 billion. Analysts on average were expecting revenue of $1.23 billion, according to Thomson Reuters I/B/E/S.

Net income rose to $207 million for the fourth quarter ended Jan. 31 from $193 million a year earlier.

On a per-share basis, net income was flat at 35 cents per share.

Excluding items, the company earned 52 cents per share, beating average analyst estimate of 32 cents per share.

Revenue rose 12 percent to $1.40 billion, above average analyst estimate of $1.31 billion.

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