Nvidia sales hit new high in Q2; reveals options probe

Graphics chip maker Nvidia posted record high revenue for the second quarter on strong sales in desktop, laptop and handheld GPUs.

Graphics chipmaker, Nvidia, has posted record high revenue for the second quarter on strong sales across several product groups including desktop, laptop and handheld graphics processing units.

The company said its revenue hit an all-time high of $US687.5 million during its fiscal second quarter, which ended July 30. This was up 20 per cent on last year's $US574.8 million. Nvidia did not announce profit figures.

Nvidia, which sells graphics chips to most major PC vendors and game console vendors, including the upcoming PlayStation 3 machine, held back further financial information because it is conducting a voluntary, internal review of its stock option practices from the time of its stock market listing in 1999 to now.

The company's Nvidia's audit committee had already reached a preliminary conclusion that incorrect measurement dates were used in the accounting of stock option grants in certain periods, Nvidia said.

The company may have to record non-cash expenses based in future earnings reports to correct the situation.

Due to the inquiry, Nvidia will not announce additional financial results for the second quarter, such as net profit and other figures.

The company would announce full second quarter results after the auditing committee finished its review, Nvidia said.

A number of high profile technology companies have recently found errors in their accounting of stock options, including Apple Computer.

Last month, the company said an internal investigation found problems with stock option grants made between 1997 and 2001, an issue which will probably cause it to restate some past financial results.

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Dan Nystedt

IDG News Service
Show Comments

Cool Tech

SanDisk MicroSDXC™ for Nintendo® Switch™

Learn more >

Breitling Superocean Heritage Chronographe 44

Learn more >

Toys for Boys

Family Friendly

Panasonic 4K UHD Blu-Ray Player and Full HD Recorder with Netflix - UBT1GL-K

Learn more >

Stocking Stuffer

Razer DeathAdder Expert Ergonomic Gaming Mouse

Learn more >

Christmas Gift Guide

Click for more ›

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?