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Due to desktop graphics chips and unusual events
GRAPHICS FIRM NVIDIA (ticker: NVDA) reported not far short of an 80% drop in net profits for its second financial quarter, while its revenues only slipped a small amount in that period.
The firm turned in a net profit of $5.1 million, compared to $24.2 million profit in its Q2 figures this time last year.
Its sales turnover was $456.1 million, not much different from the $459.9 million it turned over in the same period last year.
Nvidia blamed a decline in the desktop graphics processor market as the reason, and production difficulties were part of that picture, according to CEO Jen Hsun Huang.
He also reported the decline was due to "unusual events" in the desktop market as part of the GPU picture, but Huang did not specify which events occurred, or why they were unusual. NVDA's share price stood at $14.56 at close of play on Wall St.
Source:
The INQ!
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