NVIDIA Corporation Pops on Q3 Results

Shares of NVIDIA Corporation

are trading higher in the after-hours following the release of the company's Q3 earnings results. Currently, shares are higher by 5.11%, trading at $15.21; they ended the regular session higher by 1.05%, at $14.47. NVIDIA Corporation reported Q3 EPS of $0.29 on revenues of $1.07 billion; the Street was looking for $0.26 per share on revenues of $1.06 billion. Revenues increased 26.3% year over year. "NVIDIA's strategy is coming into its own, as the world becomes increasingly visual and mobile," said Jen-Hsun Huang, president and chief executive of NVIDIA. "Our GPU business accelerated in the third quarter, driven by strong demand from gamers and the professional market. And our mobile business benefited from new devices coming onto the market. With Tegra 3 phone wins well ahead of Tegra 2's pace, we're expecting strong growth in the year ahead." The company sees Q4 revenues of -2% to +2% quarter over quarter. NVIDIA Corporation is a provider of visual computing technologies and the inventor of the graphics processing units. Visual computing is available on devices ranging from tablets and smart phones to notebooks and workstations.