NVIDIA Q1 '09: Revenue Up 37%

MAY 12, 2008

NVIDIA reported financial results for the first quarter of fiscal 2009 ended April 27, 2008.

For the first quarter of fiscal 2009, revenue was $1.15 billion, compared to $844.3 million for the first quarter of fiscal 2008, an increase of 37 percent. Net income computed in accordance with U.S. generally accepted accounting principles (GAAP) for the first quarter of fiscal 2009 increased by 34 percent year-over-year to $176.8 million, or $0.30 per diluted share.

Analysts expected profit of 32 cents a share. NVIDIA's revenue matching expectations.

Non-GAAP net income for the first quarter of fiscal 2009, which excludes stock-based compensation charges and the associated tax impact, was $211.8 million, or $0.36 per diluted share.

"The growth of GPUs continues to outpace the PC market. We shipped 42 percent more GPUs this quarter compared to the same period a year ago, resulting in our best first quarter ever," said Jen-Hsun Huang, president and CEO of NVIDIA. "This is the era of visual computing. With a few hundred million GeForce GPUs in the market, developers can now confidently create applications with dazzling graphics. Amazing applications with beautiful graphics are showing up on the Web constantly, driving even faster adoption of GPUs. We expect this positive feedback loop to continue to drive our growth."