Nvidia Reports High Quarterly Revenue - Printer Friendly version without Comments

Appeared on: Thursday, February 13, 2014
Nvidia Reports High Quarterly Revenue

Nvidia on Wednesday posted high fiscal fourth-quarter revenue fueled by the chipmaker's PC gaming components.

The company reported revenue for the fourth quarter of fiscal 2014, ended Jan. 26, 2014, of $1.14 billion, up 8.6 percent from $1.05 billion in the previous quarter.

GAAP earnings per diluted share for the quarter were $0.25, up 25 percent from $0.20 in the previous quarter. Non-GAAP earnings per diluted share for the quarter were $0.32, up 23 percent from $0.26 in the previous quarter.

"Quarterly revenue came in well above our outlook, driven by PC gaming, capping an outstanding year for our GPU business," said Jen-Hsun Huang, president and chief executive officer of NVIDIA. "Tesla and Quadro both achieved record annual revenue. GRID cloud technology is being evaluated at hundreds of large enterprises worldwide. And Tegra K1 is disrupting the auto industry, paving the way to self-piloted cars. The groundbreaking work we are doing in visual computing is expanding the opportunities for our GPUs."

Nvidia has also halted plans to build a new campus across the street from its current headquarters in Santa Clara.

Chief Executive Jen-Hsun Huang said on Wednesday that Nvidia put the project on hold after leasing office space late last year in a existing building by its headquarters.

ith the personal computer industry losing steam, Nvidia has expanded its graphics expertise into mobile devices. But Nvidia has struggled to convince manufacturers to use its Tegra chips in tablets and smartphones. In the fourth quarter, revenue from Nvidia's Tegra mobile chip business fell 37 percent while revenue from its PC graphics processor business rose 14 percent.

The company is marketing the Tegra line of chips as ideal for powering entertainment and navigation systems in cars.