NVIDIA Kicks Off Year With A $1.1 Billion Quarter, Cites Strength Of PC Gaming And Cloud Growth
After paying the bills, NVIDIA was left with profit of $136.5 million, or $0.24 per diluted share on a GAAP basis ($166.1 million, or $0.29 per diluted share on a non-GAAP basis). NVIDIA is planning to pay its next quarterly cash dividend of $0.085 per share on June 13, 2014 to all stockholders of record on May 22, 2014.
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"First quarter results benefited from gains in PC gaming and our continued progress in the data center and cloud," said Jen-Hsun Huang, president and chief executive officer of NVIDIA. "Nearly 600 enterprises worldwide are now evaluating GRID, our virtual GPU server platform. VMware announced support for GRID to enable GPU-accelerated enterprise virtualization. And with IBM, Dell and HP now selling our GPUs in their high-volume servers, we expect large-scale data centers to be a significant source of growth."
With the investments NVIDIA's made into its GRID, the company is in an even better position to benefit from growth in the enterprise than it already was. It's also worth pointing out that that NVIDIA disclosed first details of its Pascal GPU architecture in the first quarter. Pascal will succeed Maxwell and will feature NVLink Interconnect technology, which will be incorporated in future POWER8 CPUs from IBM, and also 3D memory.
NVIDIA also launched Jetson TK1, a development platform aimed at automotive, robotics, and embedded applications. That's to say NVIDIA's portfolio extends beyond gaming.