Nvidia's GPU sales, guidance strong. Shares +3.1% AH


Nvidia (NVDA) expects FQ1 revenue of $1.05B (+/- 2%), above a $1B consensus.

The chipmaker soundly beat FQ4 estimates thanks to a 14% Y/Y increase in GPU sales to $947M. That growth rate represents a reversal from FQ3's 2% drop. Nvidia cites strong sales of its high-end GeForce GTX desktop GPUs, Quadro workstation GPUs, and Tesla HPC GPUs. Notebook GPU sales fell slightly due to PC weakness.

Tegra sales remained under pressure, plunging 37% to $131M. Nvidia is counting on the Tegra 4i (integrated baseband/app processor) and K1 (high-end app processor) to spark a turnaround.

Gross margin was 54.1%, -130 bps Q/Q but +120 bps Y/Y. Nvidia expects a GM of 52.5% in seasonally weak FQ1. Opex rose 13% Y/Y, easily eclipsing revenue grow of 3%.

Only $37M was spent on buybacks. Nvidia added $1B to its buyback authorization back in November.

FQ4 results, PR, CFO commentary

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