Nvidia Posts Record Revenue on Strength of Kepler

Nvidia Posts Record Revenue on Strength of Kepler

PC gaming is alive and well, as evidenced by strong Kepler GPU sales that helped steer Nvidia towards record revenue of $1.20 billion for the third quarter of its fiscal 2013 period ended October 28, 2012. That's a gain of 15.3 percent compared to the previous quarter, and a 12.9 percent improvement versus last year, Nvidia said, adding that its energy efficient Kepler GPU architecture continued to make excellent headway in the market place.

"Investments in our new growth strategies paid off this quarter in record revenues and margins," said Jen-Hsun Huang, president and chief executive officer of Nvidia. "Kepler GPUs are winning across the special-purpose PC markets we serve, from gaming to design to supercomputing. And Tegra is powering some of the most innovative tablets, phones and cars in the market."

Nvidia recorded a profit of $209.1 million on a GAAP basis and $245.5 million on a non-GAAP basis for the quarter, up 75.6 percent and 44 percent, respectively, compared to last quarter.

"Demand for our desktop GTX (enthusiast and PC gaming) products remained strong in the third quarter as we continued the launch of our Kepler based GPUs," Nvidia noted. "Inventory in the channel remained healthy. As anticipated, notebook GPU revenue was a record level on the strength of our Ivy Bridge design wins."

Nvidia's Consumer Product Business, which includes Tegra-based smartphone and tablet products, was $234.9 million, up 35.7 percent sequentially and 27.6 percent year-over-year.

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