PC gaming and the cloud responsible for profitable first quarter
Nvidia has released its Q1 earnings report for 2015 two days earlier than expected due to an internal communications snafu that sent the report to about 100 people. Despite that, Nvidia’s earnings have been good for the period ending April 27.
According to the report, Nvidia’s earnings for Q1 were $1.01 billion. While down 4 percent from the previous quarter, this is a 16 percent year-over-year increase for the company. Profits were also up with a net income of $136.5 million for the quarter. A 7 percent dip from the last quarter but a 75 percent gain compared to Q1 of last year.
In regards to the company’s GPU business, it was up $112 million, 14 percent, for year-over-year. Nvidia’s high-end GeForce GTX GPUs for both desktop PCs and notebooks grew 57 percent. This growth is due, according to the company, to increased demand in all markets including the U.S., China, and Europe.
Nvidia president Jen-Hsun Huang attributed the Q1 results to PC gaming and the cloud saying, “First quarter results benefited from gains in PC gaming and our continued progress in the data center and cloud. Nearly 600 enterprises worldwide are now evaluating GRID, our virtual GPU server platform. VMware announced support for GRID to enable GPU-accelerated enterprise virtualization. And with IBM, Dell and HP now selling our GPUs in their high-volume servers, we expect large-scale data centers to be a significant source of growth."