Nvidia celebrates first billion-dollar quarter

Graphics chip manufacturer Nvidia notched up its first ever $1bn revenue in the third quarter of 2007, according to the company's financial statement.

Revenue increased 36 per cent to $1.12bn, compared to $820.6m for the same period in 2006.

"We are very proud to have achieved our first billion-dollar quarter and, while it is a wonderful milestone to reach, we believe this is just the beginning," said Jen-Hsun Huang, president and chief executive at Nvidia.

"Our core businesses are continuing to grow as the GPU becomes increasingly central to today's computing experience in both the consumer and professional market segments."

Income calculated using US generally accepted accounting principles for the quarter was $235.7m, an increase of 121 per cent year on year.