IT News & Technology update

NVIDIA reports first quarter loss of approximately US$200 million

NVIDIA has recently reported its financial results for first quarter ended April 26, 2009. The results were published by the graphics chip, which the company's revenue fell to $664.2 million, compared with $1.2 billion in the first fiscal quarter last year. At 37 cents per share, the Green Goblin reported a net loss of $201.3 million, a decrease of 42 percent over the same period last year. But despite the low earnings, the company's CEO, Mr Jen-Hsun Huang wanted to point out that his company was faced with the possibility that the Tegra chip.

"We have made good progress expenditure management and a significant reduction in the stock and continue to invest in our growth strategies," said Jen-Hsun Huang, president and CEO of NVIDIA. "The GPU has become more central to our computing experience. It is a rapidly growing number of applications that depend on the GPU, and the industry is gearing up for the next generation of operating systems that adopt GPU computing. “

NVIDIA CEO wanted to emphasize the fact that despite the lower financial results, the company has maintained a revenue growth of 38 percent and a reduction in stock from 144 days to 64 compared to last quarter of 2008. In addition, the chip maker emphasizes the fact that its Tegra system-on-chip (SOC) product had the opportunity to open the doors to a whole new market, NVIDIA to reach new heights.

A leader in the graphics, NVIDIA has been a busy first quarter of this year as a number of new products, including some of its GeForce lineup. But among the highlights were the introduction of its 3D Vision product, and the launch of the first desktop computer to show off the company ION platform. These new products are expected in 2009, with more to come at the end of the year.

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