Graphics chip-maker Nvidia Corp. (NVDA) posted a 58% jump in fiscal fourth-quarter net income, as a 37% surge in revenue offset rising costs. The fabless semiconductor company reported net income of $257 million, or 42 cents a share, for the quarter ended Jan. 27, compared with $163.5 million, or 27 cents a share, a year earlier. Excluding acquisition and stock-based compensation expense, earnings came to 49 cents a share. Revenue in the latest quarter rose to $1.2 billion from $878.9 million.
Analysts polled by Thomson Financial had expected the Santa Clara, Calif., company to post earnings, excluding items, of 47 cents a share on revenue of $1.19 billion.
NVDA is down 2.85 to $24.15 this morning. It was actually up to $27 yesterday after the close. Looks like an overreaction selloff to me.
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