Submitted by: KnightMare @ 03:26 PM | Friday, November 7, 2008 | (url: http://news.cnet....)
In the third quarter of its fiscal year, Nvidia's profit dropped sharply from last year's levels, but revenue came in above forecasts.
For the three months that ended October 26, profit sank 74 percent to $61.7 million, or 11 cents a share, from $235.7 million a year earlier. Excluding costs from stock compensation and other expenses, earnings were 20 cents a share. This exceeded the average estimate of 11 cents projected by First Call.
Revenue for the world's largest graphics chip supplier declined 20 percent to $897.7 million from $1.12 billion last year.
Nvidia also lost market share to Advanced Micro Devices' ATI graphics unit. "We lost some market share recently. We're focused on regaining market share," said Jen-Hsun Huang, president and CEO of Nvidia.