Nvidia's quarterly revenue forecast misses expectations

SAN FRANCISCO Wed Feb 13, 2013 4:35pm EST

SAN FRANCISCO Feb 13 (Reuters) - Nvidia gave a quarterly revenue outlook that missed expectations as the graphics chipmaker faced more competition in a growing tablet market to offset soft PC demand.

The Santa Clara, California, chipmaker reported fourth-quarter revenue of $1.107 billion on Wednesday, up from $953 million in the year-ago quarter.

It said revenue in the current quarter would be $940 million, plus or minus 2 percent.

Analysts were expecting revenue of $1.102 billion for the quarter ended in January and $1.067 billion for the quarter ending in April, according to Thomson Reuters I/B/E/S.

Fourth-quarter net income was $174 million, or 28 cents a share, up from $116 million, or 19 cents a share, in the same quarter last year.

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