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business
Friday Aug 11 2017
By
REUTERS

Nvidia's quarterly revenue rises 56 percent

By
REUTERS

Nvidia Corp reported a 56 percent jump in quarterly revenue on Thursday, helped by strong demand for its chips used in data centers and gaming devices such as Nintendo Co Ltd's Switch.

The company's net income more-than-doubled to $583 million, or 92 cents per share, in the second quarter ended July 30, from $261 million, or 41 cents per share, a year earlier.

The Santa Clara, California-based company's revenue rose for the fifteenth consecutive quarter to $2.23 billion from $1.43 billion.

Nvidia, which has been diversifying into newer technologies including self-driving cars and artificial intelligence, originally came into prominence in the gaming industry for designing graphics processing chips, that are also used for cryptocurrency mining.


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