Chipmaker Nvidia estimates 1st-qtr profit above Street expectations

Tue May 6, 2014 9:25am EDT

May 6 (Reuters) - Nvidia Corp, a maker of graphics chips, estimated quarterly results well above analysts' expectations, as demand grows for gaming components in personal computers.

Nvidia said it expected a net income of $136.5 million, or 24 cents per share, and revenue of $1.10 billion for the first quarter ended March.

The company reported a profit of $77.9 million, or 13 cents per share, a year earlier.

Nvidia, which is also looking to tap the market for mobile devices such as smartphones and tablets, said it expected to earn 29 cents per share, excluding items.

Analysts on average were expecting earnings of 17 cents per share on revenue of $1.06 billion, according to Thomson Reuters I/B/E/S. (Reporting by Lehar Maan in Bangalore; Editing by Kirti Pandey)

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