Thursday, February 14, 2013

Nvidia: $4.28B Record for Fiscal 2013

Nvidia gladly released its earnings report for the fiscal fourth quarter and fiscal full year of 2013, ended on Jan 27, 2013. Revenue increased to a staggering $1.1 billion in the fourth quarter, up 16.1 percent from fiscal fourth quarter 2012. Net income for the quarter was up 50 percent, hitting $174 million, versus $116 million recorded during the same quarter last year.

Nvidia can celebrate record revenues of $4.28 billion for the full fiscal year of 2013, up 7.1 percent year-over-year. Net income for the fiscal year was down 3.2 percent to $562 million; possibly due to the slumping PC market.

All of this is possible thanks to the company's mobile Tegra processor lineup that's powering such devices as "Project Shield." Nvidia's GPU division accounted to $3.25 billion of the company's total revenue, while the Tegra group raked in $764 million. GPU was up 7.1 percent compared to the fiscal fourth quarter of 2012, while the Tegra division was up 89.8 percent.

"This year we did the best work in our company's history," said Nvidia chief executive officer Jen-Hsun Huang. "We grew our GPU and Tegra Processor businesses. We are sampling production silicon of the Tegra 4 platform which includes our 4G LTE modem. And we created new pillars for long term growth with Project Shield and Nvidia Grid -- first-of-their-kind devices that will extend our leadership in visual computing into mobile and the cloud."

In an investors call following the earnings release, Huang confessed his passion and faith in Nvidia's future tablet and smartphone efforts; "Yes, I believe in tablets. I believe in tablets wholeheartedly."

"I believe it is strategically essential for Microsoft to be on all the processors in the world, and surely the highest volume processor. Now, whether people see Win RT as a consumer tablet or a full computer... that's yet to be determined," he said. "It stands to reason that there are many more Win RT Tegra 4 tablets in development. We know what it's like on top of a Tegra 4, and it rocks."

Congrats to Nvidia and good luck in the future.



Daniel, Jedi Editor
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