Graphics chip maker Nvidia posted higher fiscal third quarter revenue than many of the cocaine nose jobs of Wall Street expected.
Revenue in the fiscal third-quarter ended Oct. 26 was $1.225 billion, up 16 percent from the year-ago quarter, compared with Wall Street’s random guess of $1.202 billion.
For the current fourth quarter, Nvidia said it expects revenue of $1.20 billion, plus or minus two percent. Analysts on average expected fourth quarter revenue of $1.198 billion.
Third-quarter net profit was $173 million compared to $119 million a year ago.
Nvidia did better by focusing on using its Tegra chips to in entertainment and advanced navigation systems in cars made by companies including Volkswagen’s Audi, BMW and Tesla.
In the third quarter, revenue from Tegra chips for automobiles and mobile devices jumped 51 percent to $168 million. Nvidia’s PC graphics chip business expanded 13 percent to $991 million.
