Nvidia has published its latest quarterly financial results, showing growth in its graphics processing division but warning that PC sales are down as consumers wait patiently for the launch of Windows 10.
In its latest financial report, Nvidia has claimed revenue of $1.15 billion for the first quarter of its 2016 financial year, up four per cent year-on-year and down an unsurprising eight per cent from the previous Christmas-featuring quarter. Minus its operating expenses, that came to a net income of $134 million - down a whopping 31 per cent quarter-on-quarter and two per cent year-on-year, thanks to tighter margins at 56.7 per cent.
As well as the previously-reported closure of the company's UK-based Icera modem subsidiary, which Nvidia estimates will cost it between $100 million and $125 million in restructuring charges, the biggest news came from the company's graphics division which boasted a 14 per cent boost in sales. This was tempered by warnings from the company that its second quarter may not be so rosy, thanks to customers who are holding off on PC purchases and upgrades until the launch of Windows 10, creating what chief financial officer Colette Kress described as 'a very soft market' and resulting in the forecast of missed targets for the quarter.
'The importance of visual computing is evident all around us,' claimed Jen-Hsun Huang, president and chief executive officer of Nvidia, during the earnings call. 'Our expertise in this field enables us to take a leading position to advance deep learning, virtual reality and self-driving cars. Our singular focus on visual computing is aligned with some of the most exciting growth opportunities in computing today.'
Nvidia also announced that it was 'looking forward' to its intellectual property case against Samsung and Qualcomm, which is due to be heard in June at the US International Trade Commission. The company's full earnings statement is available on the investor relations site.
In its latest financial report, Nvidia has claimed revenue of $1.15 billion for the first quarter of its 2016 financial year, up four per cent year-on-year and down an unsurprising eight per cent from the previous Christmas-featuring quarter. Minus its operating expenses, that came to a net income of $134 million - down a whopping 31 per cent quarter-on-quarter and two per cent year-on-year, thanks to tighter margins at 56.7 per cent.
As well as the previously-reported closure of the company's UK-based Icera modem subsidiary, which Nvidia estimates will cost it between $100 million and $125 million in restructuring charges, the biggest news came from the company's graphics division which boasted a 14 per cent boost in sales. This was tempered by warnings from the company that its second quarter may not be so rosy, thanks to customers who are holding off on PC purchases and upgrades until the launch of Windows 10, creating what chief financial officer Colette Kress described as 'a very soft market' and resulting in the forecast of missed targets for the quarter.
'The importance of visual computing is evident all around us,' claimed Jen-Hsun Huang, president and chief executive officer of Nvidia, during the earnings call. 'Our expertise in this field enables us to take a leading position to advance deep learning, virtual reality and self-driving cars. Our singular focus on visual computing is aligned with some of the most exciting growth opportunities in computing today.'
Nvidia also announced that it was 'looking forward' to its intellectual property case against Samsung and Qualcomm, which is due to be heard in June at the US International Trade Commission. The company's full earnings statement is available on the investor relations site.
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