Graphics chipmakerNvidia, the maker of the graphics chips in the PlayStation 3 as well as many PC video cards, announced a large increase in profits, which leads to a 3-to-2 stock split to take place on August 20th.
Gamespotsays that this quarter saw an net income of $172.7 million on a revenue of $935.3 million, which is up from last year’s $86.8 million on 687.5 million in revenue. Nvidia announces that on the end of the business day of August 20th, any holder of two shares will gain a third. After the split, Nvidia will have about 550 million shares of stock.
“Our ongoing strategy to extend the reach of the GPU is paying off,” said Nvidia CEO and president Jen-Hsun Huang, stating the obvious. “There is a fast-growing universe of applications that rely on the processing capability of the GPU, from 3D design and styling tools, video- and photo-editing software, 3D maps, and video games, to the user interfaces of the Mac and Vista.”
Good job, Nvidia! Wait, isn’t ATI making money as well? They make the Radeon line of PC graphics cards as well as the graphics chips in the Xbox 360 and Nintendo Wii, so you’d think they’d be doing alright.
[ViaGamespot]
