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Nvidia returns $1 billion to shareholders, mobile flat

April 12, 2013 12:42 PM
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Nvidia returns $1 billion to shareholders, mobile flat

SANTA CLARA, California (Reuters) - Nvidia Corp plans to return $1 billion to shareholders this fiscal year, the company said on Thursday, helping its shares trim earlier losses caused by worries about its mobile business and a slumping PC market.

Shares in the chipmaker were down as much as 4 percent after Nvidia told investors earlier at its annual analysts' day that it expects its Tegra mobile processor business to remain flat this year. They recovered after the buyback news, and were down just 0.5 percent at $12.77 in the afternoon.

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