NVIDIA on Thursday announced better than expected earnings for Q3 2011 thanks in large part to a rise in smartphone and tablet sales via their Tegra 2 processor.
Revenue for the company during Q3 was $1.07 billion, up 4.9 percent from Q2 2011 earning and 26.3 percent over the same period last year when the company took in $843.9 million.
According to Electronista the company’s Consumer Products Group saw the largest revenue increase by percentage with sales up 14% since Spring 2011.
With the company performing better than expected stock prices for NVIDIA increased by 5% even as graphics chips for PCs only grew by one percent from the previous quarter as PC sales have stalled while consumers gravitate towards the PC and Smartphone market in the United States.
NVIDIA also saw a 9.5% increase in their Professional Solutions division which creates Quadro and Tesla graphics chips for workstations.
In Q3 2011 the company saw their processors used on three more Smartphones bringing their total to 11 top devices while they also announced support for their chipsets on 13 new tablets for a total of 23 Tegra supported devices.
In other news the company has announced that 18,000 Nvidia Tesla processors will be used in the creation of the Oak Ridge National Laboratory’s Titan supercomputer.
Does it surprise you to learn that NVIDIA has seen such a large increase in mobile and tablet processor sales?