Credit: Getty Images Graphics chip maker Nvidia posted record-high revenue for the second quarter on strong sales across several product groups including desktop, laptop and handheld graphics processing units, the company said Thursday.The company said its revenue hit an all-time high, US$687.5 million during its fiscal second quarter, which ended July 30, up 20 percent over $574.8 million last year. Nvidia did not announce profit figures.The company, which sells graphics chips to most major PC vendors and game console vendors, including the upcoming PlayStation 3 machine, held back further financial information because it is conducting a voluntary, internal review of its stock-option practices from the time of its stock market listing in 1999 to now.Nvidia’s audit committee has already reached a preliminary conclusion that incorrect measurement dates were used in the accounting of stock-option grants in certain periods, Nvidia said. The company may have to record non-cash expenses based in future earnings reports to correct the situation. Nvidia’s stock fell 8.1 percent to $22.21 in after-hours trading on the news.Due to the inquiry, Nvidia will not announce additional financial results for the second quarter, such as net profit and other figures. The company will announce full second-quarter results after the auditing committee finishes its review, Nvidia said. A number of high-profile technology companies have recently found errors in their accounting of stock options, including Apple Computer.Last month, the company said an internal investigation found problems with stock-option grants made between 1997 and 2001, an issue that will likely cause it to restate some past financial results.-Dan Nystedt, IDG News Service (Taipei Bureau) Check out our CIO News Alerts and Tech Informer pages for more updated news coverage. Related content brandpost Sponsored by Palo Alto Networks Operational technology systems require a robust Zero Trust strategy in 2024 Zero Trust provides a foundation for creating a stronger security posture in 2024. By Navneet Singh, vice president of marketing, network security, Palo Alto Networks Dec 05, 2023 6 mins Security brandpost Sponsored by AWS in collaboration with IBM How digital twin technology is changing complex industrial processes forever As the use cases for digital twins proliferate, it is becoming clear that data-driven enterprises with a track record of innovation stand the best chance of success. By Laura McEwan Dec 05, 2023 4 mins Digital Transformation brandpost Sponsored by AWS in collaboration with IBM Why modernising applications needs to be a ‘must’ for businesses seeking growth Around one-third of enterprises are spending heavily on application modernisation and aiming for cloud native status. The implications for corporate culture, structure and priorities will be profound. By Laura McEwan Dec 05, 2023 5 mins Digital Transformation opinion 11 ways to reduce your IT costs now Reorienting IT’s budget toward future opportunities is a big reason why CIOs should review their IT portfolios with an eye toward curbing unnecessary spending and realizing maximum value from every IT investment. By Stephanie Overby Dec 05, 2023 11 mins Budget Cloud Management IT Governance Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe