Ah. Nothing to occupy one's Thursday afternoon like a new round of financial results. This time, it's Nvidia who's reported earnings for the first quarter of its 2014 fiscal year. (The quarter ended on April 28.)
Nvidia is reporting net income of $77.9 million on revenue of $954.7 million, which is up slightly from last year but down substantially from the previous quarter. Since Nvidia's fiscal Q4 overlapped with the holiday season, a decline is understandable. There's also the fact that newer tablets seem to be eschewing the company's Tegra SoCs in favor of silicon from the likes of Qualcomm.
Still, these numbers actually exceeded the expectations of Wall Street analysts. According to Reuters, analysts were, on average, forecasting revenue of $940.6 million for the quarter.
|Q1 FY'13||Q4 FY'13||Q1 FY'14|
|Revenue||$924.9 million||$1,106.9 million||$954.7 million|
|Net income||$60.4 million||$174.0 million||$77.9 million|
Jen-Hsun Huang, Nvidia's perpetually optimistic CEO, touts "another quarter of record margins." He also lauds the success of Nvidia's Kepler-based GPUs, which he says are "capturing share among gamers, strengthening our workstation and supercomputing segments, and will fuel new growth opportunities for our GRID server graphics solutions." Huang also predicts future growth from Nvidia's next-gen SoCs. "With Tegra 4 devices and Tegra 4i certification on the way, we're gearing up to return to growth in the second half," he says.
Nvidia's earnings announcement also includes an update on the firm's share repurchase program:
As previously announced, NVIDIA plans to return in excess of $1 billion this fiscal year to shareholders in the form of share repurchases and quarterly dividend payments. During the first quarter, NVIDIA returned $146.3 million to shareholders by repurchasing $100 million of shares, and paying $46.3 million of dividends, or $0.075 per share. As part of NVIDIA's capital return program, the company plans to continue its quarterly dividend program at $0.075 per share and to return additional cash of at least $750 million during fiscal 2014, largely through a structured share repurchase program.
For the ongoing second fiscal quarter, which will end in July, Nvidia expects revenue to hit $975 million, give or take a couple of percent. Gross margin should remain at the same level as this quarter—54.3%.
|1. Ryszard - $603||2. Hdfisise - $600||3. Andrew Lauritzen - $502|
|4. Redocbew - $350||5. the - $306||6. SomeOtherGeek - $300|
|7. chasp_0 - $251||8. Ryu Connor - $250||9. mbutrovich - $250|
|10. aeassa - $175|
|Apple's A9 impresses and the Nexus strikes back: The TR Podcast 188||30|
|Microsoft acquires Havok physics engine from Intel||80|
|AMD unleashes mobile Tonga with the FirePro W7170M||13|
|Deals of the week: Crucial's MX200 500GB SSD and more||11|
|Report: TSMC makes around 6 in 10 Apple A9 SoCs||19|
|Mobile Quadros bring Maxwell to 15" and 17" workstations||4|
|Report: Amazon to halt sales of Chromecast and Apple TV||41|
|The Tech Report Podcast is live on Twitch||2|
|A billion Android devices could be vulnerable to Stagefright 2.0 bug||50|