February 13, 2008 / 10:03 PM / 12 years ago

Nvidia's profit up on brisk sales of GeForce chips

SAN FRANCISCO, Feb 13 (Reuters) - Graphics chip designer Nvidia Corp’s (NVDA.O) quarterly profit surged 57 percent as it sold more GeForce processors and other chips used in personal computers.

Nvidia said fourth-quarter net income rose to $257.0 million, or 42 cents per share, from $163.5 million, or 27 cents per share, a year ago. Revenue rose 37 percent to $1.20 billion.

Excluding stock-based compensation and other items, Nvidia said on Wednesday it had a profit of $292.6 million, or 49 cents per share.

Shares of Nvidia rose $1.02, or 3.9 percent, to close at $27.02. In the past 12 months, the stock is up about 17 percent, outperforming the Philadelphia Semiconductor Index .SOXX, which is down about 23 percent in the same time period. (Reporting by Duncan Martell)

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