Nvidia posts record fourth-quarter and full-year revenue

Nvidia just released its financial results for both its fourth quarter and fiscal 2016. The company posted record revenue for both periods, but while quarterly net income was up 7% year-over-year, full-year profit declined 3%. Here's a quick rundown of the company's quarterly results:

  Q4 FY 2016 Q4 FY 2015 Change (YOY)
Revenue $1.40 billion $1.25 billion up 12%
Operating income $252 million $231 million up 9%
Net income $207 million $193 million up 7%
Gross margin 56.5% 55.9% down 1.1%

And here are its results for its fiscal 2016:

  FY 2016 FY 2015 Change (YOY)
Revenue $5.01 billion $4.68 billion up 7%
Operating income $747 million $759 million down 2%
Net income $614 million $631 million down 3%
Gross margin 56.1% 55.5% up 1.1%

The company continues to make the lion's share of its revenue from GPU sales. Compared to Nvidia's fiscal 2015, GPU sales were up 9% to $4.2 billion, and Q4 year-on-year GPU revenue grew 10% to $1.2 billion. GeForce consumer cards in particular had a great year. That segment's revenue increased 21% over the company's fiscal 2015, while Quadro revenue posted a 7% increase. Tegra processor sales increased a whopping 40% in Q4 from the year-ago period, but revenues fell 3% to $559 million for the 2016 fiscal year.

Nvidia also provided an outlook for the first quarter of FY 2017. The company expects revenue to be $1.26 billion, plus or minus 2 percent.  GAAP gross margin is expected to increase to 57.2%, plus or minus 50 basis points.

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