Nvidia revenues up, profits down versus last quarter
Late yesterday, Nvidia posted financial results for the first quarter of its 2012 fiscal year, which ended on May 1 of this calendar year. (No, that's not a typo.) The company saw revenue drop by 4% and net income decline by 2% compared to the same quarter a year back, but it also enjoyed a gross margin increase of nearly five points. Also, surprisingly enough, its revenue went up compared to the previous fiscal quarter, which spanned the holiday shopping rush.
Nvidia CEO Jen-Hsun Huang provides a more concise status update in the press release: "Our core GPU businesses are solid, with expanding revenues and margins. And this quarter, our Tegra mobile business took off." Huang goes on to express optimism about Nvidia's buyout of Icera. That move will let the company bundle Tegra chips and wireless modems together, purportedly doubling its "revenue opportunity within each device."
This quarter, Nvidia expects to see its revenue climb by 4-6% (that's on a quarter-to-quarter basis) with its gross margin inching up to 50.5-51.5%. Those projected results exclude the Icera buyout, though, and that deal is supposed to close early next month.