Nvidia posts continued losses, optimistic revenue outlook


— 6:00 AM on August 7, 2009

Graphics processor shipments may have risen considerably last quarter, but that apparently didn't help take Nvidia out of the red. The company has posted financial results for the second quarter of its 2010 fiscal year (ended on July 26), and it lost over 100 million bucks:

  Q2FY09 Q1FY10 Q2FY10
Revenue $892.7 million $664.2 million $776.5 million
Net profit -$120.9 million -$201.3 million -$105.3 million
Gross margin 16.8% 28.6% 20.2%

Nvidia's non-GAAP results, which don't include a $119.1 million write-off for the packaging material issue that arose last year, are a little less dire: $74.5 million in net profits. CEO Jen-Hsun Huang sounds optimistic, too. Here's his statement from the results press release:

NVIDIA's business is recovering. Product demand is improving, and our strategic investments are leading to new growth. . . . Our two newest businesses began to ship meaningful amounts of product this past quarter and show significant promise. Tesla, the industry's first GPU for general-purpose high performance computing, achieved its highest-ever quarterly revenue. And Tegra, our ultra low-power computer-on-a-chip, is making exciting progress in the market for mobile and embedded devices. Our new businesses are positioned to benefit from the rise of mobile and cloud computing.

For its third fiscal quarter, which will end on October 25, Nvidia expects revenue to climb 5-7% sequentially. That would work out to $815-830 million—a little below the $897.7 million the firm posted for Q3FY09.

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