Nvidia's quarterly financial results are in. The company posted a 5% year-on-year revenue increase, from $1.103 to $1.153 billion. Operating expenses rose from $456 million in Q2 2014 to $558 million, and net income fell to $26 million from $128 million a year ago. Gross margin fell slightly to 55%, versus 56.1% this time last year. Here are the full results, for your perusal:
|Q2 2015||Q2 2014||Change|
|Revenue||$1.15 billion||$1.10 billion||up 5%|
|Operating expenses||$558 million||$456 million||up 22%|
|Net income||$26 million||$128 million||down 80%|
|Gross margin||55.0%||56.1%||down 1.1%|
|Diluted EPS||$0.05||$0.22||down 77%|
Earnings per share was $0.05 this quarter. Nvidia's inability to find a buyer for its Icera division resulted in a $0.19 charge per share, while the Shield Tablet recall resulted in another $0.02-per-share charge. Nvidia also paid $52 million of cash dividends and made $400 million in stock repurchases in the past quarter.
The company cites continuing strong demand for its GeForce GTX graphics cards and the growth of its Grid enterprise graphics virtualization platform as highlights this quarter. Nvidia also touts strong adoption of its Drive PX automotive computing system: it says it's working with 50 companies using its technology for autonomous driving applications.
For the upcoming quarter, Nvidia expects to take in $1.18 billion in revenue, plus or minus two percent. Gross margin is expected to rise to 56.2%. Operating expenses are expected to total $484 million. The company notes that its predictions exclude $15 to $25 million of "additional restructuring charges" that will take effect later in the year.