SAN FRANCISCO—Graphics chip vendor Nvidia Corp. Friday (May 11) reported better-than-expected sales for its fiscal first quarter, ended April 29, and said it expects sales to increase significantly in the second quarter.
Nvidia (Santa Clara, Calif.) reported first quarter sales of $924.9 million, down 3 percent from the previous quarter and down 4 percent compared to the year-ago quarter. The company reported a net income in accordance with generally accepted accounting practices (GAAP ) of $60.4 million, or 10 cents per share, down 48 percent from the previous quarter and down 56 percent compared to the year-ago quarter.
On a non-GAAP basis, excluding charges, Nvidia reported a net income of $97.5 million, or 16 cents per share, down 38 percent from the previous quarter and down 64 percent compared with the year-ago quarter.
Nvidia's first quarter sales topped consensus analysts' expectations of about $916 million and non-GAAP earnings of 16 cents per share were in line with consensus analysts' expectations, according to Yahoo Finance.
