Profits are up 29-percent year-over-year, revenue up by 3-percent
NVIDIA has posted their Q1 2013 financials, and while profit, at $78,000,000 is down by 55-percent compared to last quarter, the year-over-year numbers is up by 29-percent. Earnings show a similar trend, with today's $955,000,000 down by 13-percent from last quarter, but up 3-percent year-over-year. Today's news beats the projections by Wall Street, and we expect the stock to reflect that when the market opens tomorrow.
NVIDIA CEO Jen-Hsun Huang says the successful quarter comes from the Kepler GPU, and the Kepler and Tegra 4 platform are both expected to drive next quarter's numbers further into the black.
The success of Kepler-based GPUs within and beyond the PC helped drive another quarter of record margins. Kepler is capturing share among gamers, strengthening our workstation and supercomputing segments, and will fuel new growth opportunities for our GRID server graphics solutions. With Tegra 4 devices and Tegra 4i certification on the way, we're gearing up to return to growth in the second half.
All you financial types can check out the full statement at the source below.