NVIDIA tops second quarter estimates

NVIDIA topped analysts' estimates in its second quarter Monday, earning $29 million, or 28 cents a share, on sales of $170.4 million.

First Call Corp. consensus expected the maker of 3D graphics processors to earn 26 cents a share in the quarter. So-called "whisper" estimates pegged NVIDIA for a profit of 31 cents a share.

Ahead of the earnings report, NVIDIA (Nasdaq: NVDA) shares closed up 1 3/16 to 78 3/16.

The $170.4 million in sales marks a 118 percent jump from the year-ago quarter when it earned $6.7 million, or 9 cents a share, on sales of $78 million.

"The second quarter of fiscal 2001 was a milestone quarter for NVIDIA," said CEO Jen-Hsun Huang in a prepared release. "We are pleased with our focus and execution of each core element of our strategy."

Last quarter, it raked in $18.3 million, or 47 cents a share, on sales of $148.5 million.

The stock moved up to a 52-week high of 88 in June ahead of a 2-for-1 stock split after falling to a low of 8 3/8 in September.

All four analysts tracking the stock rate it a "strong buy."