NVIDIA Reports Financial Results for 1st Quarter Fiscal 2011
NVIDIA reported revenue of $1.0 billion for the first quarter of fiscal 2011 ended May 2, 2010, up 2 percent from the prior quarter and up 51 percent from $664.2 million in the same period a year earlier. The outlook for the second quarter of fiscal 2011 is that revenue is expected to be down seasonally 3 to 5 percent from the first quarter.
“With our new Fermi-class GPUs in full production, NVIDIA’s key profit drivers are fully engaged,” said Jen-Hsun Huang, NVIDIA CEO and president. “We shipped a few hundred thousand Fermi processors into strong consumer demand. Our Quadro business for workstations grew strongly, fueled by pent up demand from enterprise customers and new growth markets like video editing. And we had record revenue from Tesla processors for high-end servers. We anticipate continued strength in these businesses over the coming quarters.”
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