Nvidia managed to beat Wall Street estimates for the fifth quarter running. Revenue was in line with expectations, $1.054 billion, 7.9 percent higher than in Q2, but also 12.5 percent lower year-on-year.
GAAP net income was $118.7 million, or $0.20 per diluted share, while non-GAAP net income was $153.8 million, or $0.26 per diluted share, slightly higher than expected and higher than in Q2. The gross margin was 55.7 percent.
Here are a few interesting numbers – sales of Tegra chips fell 54 percent year-on-year, to just over a hundred million dollars, while PC GPU sales were down 2 percent. Nvidia expects the Tegra business to remain flat this year, which is hardly surprising.
The fourth quarter of fiscal 2014 should bring more of the same. Nvidia is expecting $1.05 bilion revenue, plus or minus two percent. Margins will be slightly lower, 54.2 to 54.5 percent.