The numbers are in for Nvidia's latest fiscal quarter. While the firm saw both revenue and earnings go down compared to the same quarter a year ago, its revenue of $977.2 million narrowly beat both Nvidia's own guidance ($975 million) and Wall Street's expectations for the quarter ($977.2 million, according to Reuters).
Here are the numbers in full. Note that the second quarter of Nvidia's 2014 fiscal year ended on July 28. (And no, that's not a typo; the company's fiscal years are a year ahead of the calendar, for some reason.)
|Q2 FY'13||Q1 FY'14||Q2 FY'14|
|Revenue||$1,044.3 million||$954.7 million||$977.2 million|
|Net income||$119.0 million||$77.9 million||$96.4 million|
Upbeat as always, Nvidia CEO Jen-Hsun Huang had this to say:
The GPU business continued to grow, driving our fourth consecutive quarter of record margins. . . . We look forward to a strong second half, with new Tegra 4 devices coming to market, SHIELD moving beyond the U.S. and broader sampling of Project Logan, our next-generation Tegra processor, which brings Kepler, the world's most advanced GPU, to mobile.
Looking ahead at the ongoing quarter, Nvidia says it expects revenue to reach $1.05 billion, with gross margin to climb to 56%. Reuters says the revenue forecast is below the $1.09 billion analysts were expecting on average. The figure is also lower than last year's. For reference, Nvidia's revenue and gross margin were $1.20 billion and 52.9%, respectively, for the same quarter a year ago.