Nvidia Corp. reported its third quarter revenues of $1.23 billion and has recorded $3.43 billion for the first three quarters of the year, a record for the company.
The third quarter revenue was up 16 percent from the same quarter a year ago ($1.05 billion) and up 11 percent from the previous quarter ($1.10 billion). The three quarters of revenue reported is also up 15 percent from the first three quarters of 2013 of $2.99 billion.
Jen-Hsun Huang, president and CEO of Nvidia, said in a statement that growth has “kicked in for us on several fronts.” These include high performance computing, virtualization and Web service providers that have created demand for GPU-accelerated datacenter platforms. He added that automakers are using Tegra to “help reinvent the driving experience” and with Nvidia’s Maxwell architecture it has “triggered a major upgrade cycle by PC gamers.”
As far as the fourth quarter outlook goes, Nvidia is expecting to achieve revenues of $1.20 billion, plus or minus 2 percent. Gross margins in the fourth quarter are expected to be 55.2 percent GAAP and 55.5 percent non-GAAP. GAAP operating expenses are expected to be about $470 million in the fourth quarter.
Some of the highlights from Nvidia in the third quarter include:
- GeForce GTX GPU launch based on Maxwell architecture.
- Expansion of the Maxwell-based processors in Nvidia’s Quadro lineup.
- A push of the Tesla product into big data analytics.
- Filed a lawsuit against Samsung and Qualcomm over GPU patents.
- New design wins for the Tegra K1 mobile processor.
- Surpassed 6 million cars on the road with infotainment systems powered by Nvidia.