Reuters: Technology News: Nvidia forecasts revenue below estimates on sluggish demand

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Nvidia forecasts revenue below estimates on sluggish demand Aug 8th 2013, 21:12 Thu Aug 8, 2013 4:32pm EDT (Reuters) - Nvidia Corp's quarterly profit fell 19 percent as the graphic chipmaker struggles with slowing sales due to increasing competition in the mobile devices market, an area where the company is focusing to offset declining sales to PC makers. Revenue fell 6.4 percent to $977.2 million. Net income fell to $96.4 million, or 16 cents per share in the second quarter, from $119 million, or 19 cents per share, a year earlier. Excluding items, the company earned 23 cents per share.

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