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Thursday, November 07, 2013
Nvidia Reports Q3 Results


Nvidia gave a revenue forecast for the current quarter, and for Q3 it reported a revenue of $1.054 billion, up 7.9 percent from $977.2 million in the previous quarter.

GAAP earnings per diluted share were $0.20, up 25.0 percent from $0.16 in the previous quarter. Non-GAAP earnings per diluted share were $0.26, up 13.0 percent from $0.23 in the previous quarter.

The sequential increase reflects record revenue in the current quarter for Quadro and Tesla GPUs for workstations and servers, a slight increase in GeForce GPU revenue for desktops, offset by lower unit shipments of GeForce GPUs for notebooks.

Nvidia's year-over-year revenue decrease reflects lower GPU revenue for desktops and notebooks, offset by record revenue in the current quarter for Quadro and Tesla GPUs.

NVIDIA also announced a 13 percent increase in the quarterly cash dividend to $0.085 per share ($0.34 per share on an annual basis) from $0.075 per share ($0.30 per share on an annual basis). NVIDIA will pay its next quarterly cash dividend of $0.085 per share on Dec. 13, 2013, to all stockholders of record on Nov. 21, 2013.

NVIDIA intends to return $1 billion in fiscal 2015 through stock repurchases and quarterly dividend payments. The company's board of directors has authorized an additional $1 billion under the company's stock repurchase program for a total of $1.286 billion available through the end of January 2016.

"Visual computing is increasingly important to more and more markets," said Jen-Hsun Huang, president and chief executive officer of NVIDIA. "It's creating demand for GPUs and opening up large opportunities. The proof can be seen in the proliferation of Tegra into new verticals like automotive and set-top boxes, in our all-time high Quadro and Tesla revenues, and in the record number of customer trials for our GRID datacenter initiative. At a time when many are struggling with the decline in the mainstream PC market, our visual computing leadership has positioned us well to grow with the accelerating adoption of GPUs in the cloud and the world of connected devices."

For the the fourth quarter of fiscal 2014, Nvidia expects revenue to be $1.05 billion, plus or minus two percent.




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