The first quarter of Nvidia's 2013 fiscal year is now over (it ended on April 29th), and the results are out. And... they don't look all that great. While the company is still comfortably in the black, its net income has fallen by more than 50% compared to the same quarter a year ago. Revenue is down a few percentage points, as well, and the company's gross margin is down ever so slightly.
|Q1 FY'12||Q4 FY'12||Q1 FY'13|
|Revenue||$962 million||$953.2 million||$924.9 million|
|Net income||$135.2 million||$116 million||$60.4 million|
Still, Nvidia CEO Jen-Hsun Huang sounds upbeat. Here's what he says in the results release announcement:
"Kepler GPUs are accelerating our business," said Jen-Hsun Huang, president and chief executive officer of NVIDIA. "Our newly launched desktop products are winning some of the best reviews we've ever had. Notebook GPUs had a record quarter. And Tegra is on a growth track again, driven by great mobile device wins and the upcoming Windows on ARM launch.
"Graphics is more important than ever. Look for exciting news next week at the GPU Technology Conference as we reveal new ways that the GPU will enhance mobile and cloud computing," he said.
For the ongoing quarter, which corresponds roughly to the second quarter of Nvidia's 2013 fiscal year, the company expects revenue to fall somewhere between $990 million and $1.05 billion, with gross margin to total 50.2%-52.2%. For reference, Nvidia posted $1.017 billion revenue and a 51.7% margin for the second quarter of its 2012 fiscal year. It sounds like this quarter's results will turn out to be similar.