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Chip designer Nvidia Corp. (NVDA-Q) posted fourth-quarter revenue below expectations and said revenue would increase 6 to 8 percent sequentially in the current quarter, when sales of its new Tegra 2 mobile chips are expected to ramp up.
Nvidia said revenue for the fiscal fourth quarter was $886 million US, down 9.8 percent from the year-ago period. Analysts on average had expected fourth-quarter sales of $892 million US, according to Thomson Reuters.
Nvidia's forecast implies revenue of $$940 million to $957 million in the first quarter. Analysts on average had expected $889 million of revenue in the first quarter.
The company, long known for designing high-performance graphics cards favoured by gamers, reported GAAP net earnings of $172 million, or 29 cents a share, for the quarter ended Jan 30, compared with a net profit of $131 million, or 23 cents a share, in the year-ago period.