NVIDIA Reports Financial Results for First Quarter Fiscal 2011

by Marco Chiappetta — Sunday, May 16, 2010, 07:09 PM EDT

NVIDIA Reports Financial Results for First Quarter Fiscal 2011

SANTA CLARA, Calif. — NVIDIA (Nasdaq: NVDA) today reported revenue of $1.0 billion for the first quarter of fiscal 2011 ended May 2, 2010, up 2 percent from the prior quarter and up 51 percent from $664.2 million in the same period a year earlier.

On a GAAP basis, the company recorded net income of $137.6 million, or $0.23 per diluted share, for the first quarter of fiscal 2011. That compares with $131.1 million, or $0.23 per diluted share, in the previous quarter and a net loss of $201.3 million, or $0.37 per share, in the same period a year earlier.

Gross margin increased to 45.6 percent for the first quarter fiscal 2011 from 44.7 percent in the previous quarter and 28.6 percent in the same period a year earlier.

Revenue grew 2 percent quarter-on-quarter to $1.0 billion
GAAP net income increased to $137.6 million, or $0.23 per diluted share
GAAP gross margin improved to 45.6 percent

"With our new Fermi-class GPUs in full production, NVIDIA's key profit drivers are fully engaged," said Jen-Hsun Huang, NVIDIA CEO and president. "We shipped a few hundred thousand Fermi processors into strong consumer demand. Our Quadro business for workstations grew strongly, fueled by pent up demand from enterprise customers and new growth markets like video editing. And we had record revenue from Tesla processors for high-end servers. We anticipate continued strength in these businesses over the coming quarters."

The full report is avaialble here.

Tags: Nvidia, GeForce, graphics, Financials, results

Marco Chiappetta

Marco's interest in computing and technology dates all the way back to his early childhood. Even before being exposed to the Commodore P.E.T. and later the Commodore 64 in the early ‘80s, he was interested in electricity and electronics, and he still has the modded AFX cars and shop-worn soldering irons to prove it. Once he got his hands on his own Commodore 64, however, computing became Marco's passion. Throughout his academic and professional lives, Marco has worked with virtually every major platform from the TRS-80 and Amiga, to today's high end, multi-core servers. Over the years, he has worked in many fields related to technology and computing, including system design, assembly and sales, professional quality assurance testing, and technical writing. In addition to being the Managing Editor here at HotHardware for close to 15 years, Marco is also a freelance writer whose work has been published in a number of PC and technology related print publications and he is a regular fixture on HotHardware’s own Two and a Half Geeks webcast. - Contact: marco(at)hothardware(dot)com