Nvidia has reported its first quarter financial results for this year and it is doing fairly well for itself with revenue for its 2011 fiscal year Q1 ending 2nd May 2010 of $1.0 billion.
Revenue is up a huge 51 percent year-on-year, or a $664.2 million increase from the same period last year. Gross margin increased to 45.6 percent, up from 44.7 percent the previous quarter and 28.6 percent the same period a year before.
For GAAP, Nvidia bagged a net income of $137.6 million or $0.23 per diluted share. It says this compares with $131.1 million in the previous quarter and a net loss of $201.3million.
The company thinks, for the second quarter of its fiscal year 2011, revenue will seasonally drop between three to five percent. It says that the GAAP gross margin is expected to increase to 47 percent, and GAAP operating expenses are expected to be flat.
Nvidia reckons the reason why it boosted its revenue compared to the last quarter is its Tegra processors shipping in Microsoft’s Kin One and Kin Two. It also thinks that its CUDA engine has been a major success, and particularly is proud of its Fermi architecture cards, the GeForce GTX 480 and the GeForce GTX 470 launching.