Revenue, profits down in Nvidia's first quarter

Nvidia has posted its financial results for the first quarter of its 2008 fiscal year. For the quarter ended April 29, 2007, the firm says it had revenue of $844.3 million and net income of $132.3 million—a slight decrease from the results for the fourth quarter of its 2007 fiscal year, when it raked in $163.5 million in profit and $878.9 million in revenue. Nonetheless, Nvidia boasts that its profits soared 44% and that revenue went up 24% compared to the same time period last year. A good part of that growth can be attributed to the success of Nvidia's GeForce graphics cards, which generated year-over-year revenue growth of no less than 71%. Revenue for Nvidia's Quadro professional products also went up 39% compared to last year, and Nvidia's nForce chipsets generated year-over-year revenue growth of 25%.
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