NVIDIA profits double

Strong graphics card and Xbox sales boost bottom line

Source - Reuters

NVIDIA last night announced its financial results for the three months to January 27th 2002, showing a massive boost in revenues, partly thanks to strong sales of the Xbox in America. Revenues stood at a touch below $500m, up about 130% compared to the same period the previous year, while profits rose 135% to $73m. All of this at a time when rival companies are continuing to suffer from a slowdown in the PC market or even leaving the graphics card industry entirely. Unfortunately the cloud that came with this silver lining was a confirmation that NVIDIA is being investigated by the Securities & Exchange Commission over continuing allegations of insider trading, and that it has also now begun an internal investigation into some of its accounting practices during the year 2000.

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