Nvidia had some rough quarters last year, but it now seems to be back on top of things. For the first quarter of its 2011 fiscal year, which ended on May 2, the company has posted revenue of just over $1 billion, with growth in both net income and gross margin:
|Q1 FY'10||Q4 FY'10||Q1 FY'11|
|Revenue||$664.2 million||$982.5 million||$1,001.8 million|
|Net income||-$201.3 million||$131.1 million||$137.6 million|
Nvidia CEO Jen-Hsun Huang says in the press release that, now that the GeForce GTX 480 and 470 are out, Nvidia's "key profit drivers are fully engaged." Huang also boasts, "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."
Looking at the ongoing quarter, Nvidia expects its revenue to fall 3-5% compared to the first quarter—a seasonal drop. The company does, however, predict its gross margin will rise to 46-47%.
Today's results pretty much fit with the Q1 numbers crunched by Jon Peddie Research. According to JPR, Nvidia was the only graphics processor vendor to see its shipments increase between the fourth and first calendar quarters.