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Nvidia issues FY15 first quarter results, revenue at $1.1 billion

updated 07:10 pm EDT, Thu May 8, 2014

Revenue up 16 percent from previous year, gross margins reach 54.8 percent

Nvidia posted its financial results for the first quarter of its 2015 fiscal year this week, announcing that it has seen $1.103 billion in total revenue for the quarter ending April 27. The revenue comes on the back of strong GPU sales in China, Europe and the United States.

While revenues are up over the previous year, there was a decline quarter-to-quarter, as the holiday quarter saw revenues of $1.144 billion. The large revenues contributed to an overall net income of $136.5 million for the company, clearing $59 million more over the results of the year-ago quarter. Nvidia adds that revenues from their patent license agreement with Intel brought in $66 million.

Contributions to the revenue for the quarter is mostly made up from GPU sales, a result of the demand on GPU units. However, the total business saw a decline of $49 million, or five percent from the previous quarter. Nvidia attributes this decline to the shift of seasonal numbers in desktop markets. "First quarter results benefited from gains in PC gaming, and our continued progress in the data center and cloud," says Nvidia's President Jen-Hsun Huang.

The company saw gross margins increase 50 basis points over the previous year, to reach 54.8 percent. This increase is a result of notebook and upper-end desktop graphics sales. Nvidia says that its "gross margin continue to reflect the growth in volumes, and stable average selling prices of higher-margin Geforce GTX GPUs."

Entertainment and auto system sales have helped Tegra processor sales grow to $139 million, 35 percent over the previous year and six percent over the previous quarter. Android tablets, smartphones and recent agreements with auto systems such as those to be found in Audi cars are responsible for the sharp uptick. Console sales and embedded devices were listed as decreasing in sales, but numbers for the actual decline were not given.



By Electronista Staff
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