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Market Report -- In Play (NVDA)August 6, 2009 4:31 PM ET NVIDIA beats by $0.09, beats on revs; guides Q3 revs above consensus Reports Q2 (Jul) earnings of $0.07 per share, excluding non-recurring items, $0.09 better than the First Call consensus of ($0.02); revenues rose 16.9% year/year to $776.5 mln vs the $710.2 mln consensus. NVDA reports Q2 non-GAAP gross margin of 36.3% vs 33.5% consensus. Co issues upside guidance for Q3, sees Q3 revs up 5-7% sequentially, or roughly $815.3-830.9 mln vs. $758.37 mln consensus. "NVIDIA's business is recovering. Product demand is improving, and our strategic investments are leading to new growth... Our two newest businesses began to ship meaningful amounts of product this past quarter and show significant promise. Tesla, the industry's first GPU for general-purpose high performance computing, achieved its highest-ever quarterly revenue. And Tegra, our ultra low-power computer-on-a-chip, is making exciting progress in the market for mobile and embedded devices. Our new businesses are positioned to benefit from the rise of mobile and cloud computing." Briefing.com is the leading Internet provider of live market analysis for U.S. Stock, U.S. Bond, and world FX market participants.
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