Nvidia has announced its first fiscal quarter earnings, reporting year-on-year revenue loss of four percent, or $962 million, and year-on-year net income decline of 1.7 percent, or $135.2 million.
On the plus side the company’s revenue increased 8.5 percent to $962 million from the previous quarter. In its earnings statement, Nvidia claims the cessation of legal action between it and Intel, along with the cross licensing agreement, bolstered its revenues.
“Our patent cross license agreement with Intel also contributed to the strength in our GPU business, with one months worth of revenue recognised in the first quarter,” the company said in its commentary.
As a result, Nvidia was able to report a 3.8 percent rise in its GPU business, marking a tidy $637.6 million.
Nvidia claims its Tegra 2 gave a helping hand to its consumer division, reporting an increase of 78.2 percent to $122.6 million. It says partners bringing Android products to the market were the main driver.
The company is confident about the next quarter. Nvidia believes its Icera acquisition will really hedge its bets. The deal should close towards the end of May or the beginning of June.
As a result, Nvidia’s second quarter earnings will include approximately two months of Icera’s operating results.
It predicts sales will rise by four to six percent sequentially in its fiscal second quarter at between $1 billion and $1.02 billion.