Nvidia posts modest revenue growth

The results for Nvidia's latest fiscal quarter are in. It looks like the company enjoyed modest revenue growth compared to last year, though its net income slipped by about 22%. Still, the numbers are much better than those Nvidia posted last quarter, when both revenue and profits were down substantially.

Here's how the figures compare to those from prior quarters. Note that the third quarter of Nvidia's 2013 fiscal year ended on July 29 (i.e. last week).

  Q2 FY'12 Q1 FY'13 Q2 FY'13
Revenue $1,017 million $924.9 million $1,044.3 million
Net income $151.6 million $60.4 million $119.0 million
Gross margin 51.7% 50.1% 51.8%

Nvidia CEO Jen-Hsun Huang is, as always, bullishly optimistic about the results:

"Our investments in mobile computing and visual computing are both paying off," said Jen-Hsun Huang, president and chief executive officer of NVIDIA. "Tegra has achieved record sales as tablets come into their own. Our GPU business made strong gains in a weak market, boosted by our breakthrough Kepler architecture. Looking ahead, we're optimistic, as our investments position us right at the center of the fastest growing segments of computing."

The man does have a point. Nvidia's Tegra chips have wound up in not just Google's $199 Nexus 7 tablet, which is proving very popular, but also the Windows RT version of Microsoft's upcoming Surface tablet. No wonder Huang is touting record sales.

For the ongoing quarter, which will be the third quarter of Nvidia's 2013 fiscal year, the company expects revenue to fall in the $1.15-1.25 billion range. That would be an increase from the $1.07 billion the firm posted a year ago.

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