Nvidia quarterly revenue meets expectations, initiates dividend

SAN FRANCISCO Thu Nov 8, 2012 4:29pm EST

SAN FRANCISCO Nov 8 (Reuters) - Nvidia's third-quarter revenue met expectations as the graphics chipmaker pushed further into a growing tablet market to offset weak PC demand.

The company also said it was initiating a quarterly dividend of 7.5 cents a share.

The Santa Clara, California, chipmaker reported third-quarter revenue of $1.204 billion, up from $1.066 billion in the year-ago quarter.

Analysts were expecting revenue of $1.193 billion for the quarter ending in October, according to Thomson Reuters I/B/E/S.

Third-quarter net income was $209 million, or 33 cents a share, up from $178 million, or 29 cents a share in the same quarter last year.

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