Despite lowering the revenue outlook recently, Nvidia managed to beat both Wall Street's and its own pessimistic expectations.
Nvidia reported fourth quarter earnings of $116 million, or 19 cents a share (statement). Non-GAAP earnings were 26 cents a share on a revenue of $953.2 million, a 10.6 percent decrease from $1.07 billion in the previous quarter.
Wall Street was expecting Nvidia to report fourth quarter earnings of 19 cents a share on revenue of $950.5 million.
Prior to Wednesday's announcement, Nvidia lowered Q4 revenue expectations to $950 million from $1.07 billion.
Revenue for fiscal 2012 overall was $4 billion -- a 12.8 percent increase from the previous year -- with non-GAAP earnings at $1.19 per share.
CEO and president Jen-Hsun Huang said in prepared remarks:
I am pleased with our achievements last year. Our GPU business grew sharply. And, with the success of Tegra, we established our position in the mobile market. We expect continued growth ahead, as Tegra 3 powers a new wave of quad-core super phones and Kepler, our next-generation GPU architecture, sets new standards in visual and parallel computing.
For the outlook, Nvidia is predicting a revenue of $900 million to $930 million at the end of fiscal Q1 2013.
For Nvidia's fiscal first quarter, Wall Street is looking for a profit of 18 cents a share on revenue of $944.6 million.
For fiscal 2013, Nvidia is expected to report earnings of 93 cents a share on revenue of $4.18 billion.
- Nvidia's Tegra 3 processors started shipping to consumers in the Asus Transformer Prime tablet, the first running Android 4.0 (Ice Cream Sandwich).
- Nvidia unveiled its new Maximus technology, which is touted to increase productivity through a new design and simulation accelerated on a single workstation.