Nvidia: We 'grew solidly' last quarter

The markets might be bouncing up and down with little rhyme or reason, but at the very least, Nvidia stockholders can take comfort in today's announcement. Nvidia has published earnings for its latest fiscal quarter (ended July 31), and the numbers are worth getting excited about. Take a look:

  Q2 FY'11 Q1 FY'12 Q2 FY'12
Revenue $811.2 million $962 million $1.017 billion
Net income -$141 million $135.2 million $151.6 million
Gross margin 16.6% 50.4% 51.7%

That 51.7% gross margin is a record, according to Nvidia. $151.6 million in profits is quite a reversal from last year's $141-million net loss, too

Interestingly, Nvidia CEO Jen-Hsun Huang attributes the revenue growth to "consumer demand for notebooks powered by our GeForce GPU, with its unique Optimus technology"—not the Tegra 2 processors that are popping up in every other iPad competitor. I suppose the Android tablet market is still in its infancy, though, and Nvidia may reap bigger rewards from Tegra 2 this quarter.

Speaking of which, Nvidia says it expects revenue for the ongoing quarter to be up 4-6% from the previous quarter. The company also foresees flat gross margin growth.

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