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Nvidia Posts Financial Results For Fiscal Q1 2017, Showing Solid Growth In All Sectors

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Nvidia revealed that it earned $1.3 billion in revenue for the first quarter of fiscal 2017.

Compared to the $1.15 billion earned revenue during the same quarter last year, the latest recorded data suggests that the company achieved a higher revenue by up to 13 percent. At the same time, it's lower by 7 percent when compared to the previous quarter's revenue of $1.4 billion.

The company also announced its GAAP (Generally Accepted Accounting Principles) and non-GAAP earnings for every diluted share during the latest recorded quarter earnings results. Both GAAP and non-GAAP earnings saw an increase compared to the recorded data a year ago. For the first quarter of fiscal 2017, GAAP earnings were recorded at $0.33 while non-GAAP earnings were $0.46, showing an increase of 38 percent from last year's $0.24 for the GAAP earnings and 39 percent from the previous year's $0.33 for the non-GAAP earnings per share.

Both GAAP and non-GAAP earnings saw a drop from the data recorded in the past quarter. GAAP earnings dropped by 6 percent from last quarter's $0.35 while non-GAAP earnings dropped by 12 percent from last quarter's $0.52.

"We are enjoying growth in all of our platforms - gaming, professional visualization, datacenter and auto," says Jen-Hsun Huang, Nvidia's chief executive officer and co-founder.

Nvidia also gave some prospects for the second quarter of fiscal year 2017. It expected revenue to reach $1.35 billion. Other expected results include GAAP gross margins at 57.7 percent; non-GAAP gross margins at 58.0 percent; GAAP operating expenses at around $500 million; non-GAAP operating expenses at approximately $445 million and both GAAP and non-GAAP tax rates to be at 20 percent.

Nvidia had so far gained progress in each of the company's four huge platforms during the first quarter for fiscal 2017.

On gaming, Nvidia successfully launched the GeForce GTX 1070 and GTX 1080; expanded the company's VRWorks software development kit that comes with Simultaneous Multi-Projection; launched in-game photography tool Nvidia Ansel and expanded the Shield platform's gaming content.

Notable achievements on the automotive platform include WEpods, HD Mapping and the use of its Drive PX 2 for powering all vehicles in Roborace, which is scheduled to debut later this year.

Nvidia also revealed the DGX-1, the first deep-learning supercomputer in a box in the world. It also announced the Iray VR, a tool for creating virtual 3D worlds that are photorealistic, interactive and with unmatched fidelity.

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