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NVidia Beats Street With Quarterly Results

NVidia Beats Street With Quarterly ResultsThird-quarter results of NVidia beat the estimates as the company refocused on tablets and smartphones in the personal computer market, despite its “lower than expected” revenue.

Shares of Nvidia unveiling its brand new mobile processor in this week, has jumped to over 5 percent, as reported on Thursday.

Being worried about going beyond its traditional graphics chipsdesigning business for PCs, Nvidia has focused into mobile devices by its outstanding Tegra chips.

Nvidia had witnessed some successes in early 2011 with its tablet’s processors made for Samsung and LG, although the sales have moved with less momentum than was expected.

Its new mobile processor, Tegra-3, also faces rapidly growing competition with Qualcomm, Texas Instruments Inc., and so on.

Nvidia said sales included in the Professional Solution group, which consists of graphics chips being used in workstations, grew 9.5% sequentially in the 3rd quarter.

“We’re very impressed with the work station business growth. That’s a high margin, obviously “claimed Kevin Cassidy, a tech analyst from Stifel Nicolaus.

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