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|13th May 2013, 07:47||#1|
Join Date: May 2010
Nvidia does better than expected
Nvidia posted first-quarter earnings and revenue above expectations but its revenue outlook for the current quarter fell short of Street estimates.
According to VentureBeat, the Santa Clara, California, chipmaker reported first-quarter revenue rose to $954.7 million which was slightly down from $924.9 million in the year-ago quarter.
The company said that its revenue in the current quarter would be $975 million, plus or minus 2 percent.
Given that the PC market is still pants at the moment, Nvidia has much to be proud of. Analysts were expecting revenue of $941 million for the quarter ended in April and $1.0 billion for the quarter ending in July.
Its first-quarter net income was $77.9 million compared to $60.4 million at the same time last year.
Jen-Hsun Huang, president and chief executive officer of Nvidia said that the company did better because of the success of Kepler-based GPUs within and beyond the PC .
He said that Kepler is capturing share among gamers, strengthening Nvidia's workstation and supercomputing segments. It will fuel new growth opportunities for GRID server graphics solutions too.
Jen-Hsun added that Tegra 4 devices and Tegra 4i certification on the way and he is expecting the company to return to growth in the second half.
The Tegra 4i chip, combines a 4G LTE modem with a mobile processor, could give Nvidia an advantage in mobile devices the future. Of course that could all go pear shaped in the future. So far Nvidia has not let reviewers benchmark the Tegra 4 and we only have numbers supplied by the company to suggest it might be OK.
Project Shield which is Nvidia's upcoming handheld game device could end up doing well, as it does have its fingers on the pulse of trends in the industry. Of course it could also be a total turkey.
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