Nvidia Ahead of the Competition “Than at any other Time in our History,” Says CEO
Even when the PC market isn’t growing like it once did, Nvidia still seems to be doing well. Earlier today, the company reported earnings for their first fiscal quarter ended April 30 that beat Wall Street’s expectations. Nvidia reported non-GAAP earnings of 46 cents a share, up 39 per cent from a year ago, bringing a 13 per cent increase in revenue which sits at $1.30 billion.
At the time, Nvidia CEO Jen-Hsun Huang said their graphics chips are “further ahead [of the competition] than at any other time in our history,” and that the company’s PC gaming platform, GeForce, is “strong and it’s getting stronger than ever.”
Last week, Nvidia unveiled the GeForce GTX 1080 and GTX 1070 graphics cards based on its next generation Pascal architecture. The new Pascal chips are touted to be faster that Nvidia’s current flagships, the GTX Titan X and 980 Ti, at almost half the price, while offering innovative new gaming technologies and breakthrough VR experiences.
“Our new Pascal GPU architecture will give a giant boost to deep learning, gaming and VR,” Huang said, adding that the processors are in full production and would come out this summer that it hopes will help strengthen its grip on the high-end PC gaming market.
Revenue from Nvidia’s gaming business was up 17 per cent to $687 million, thanks in part to the evolution in the virtual reality sector and birth of VR headsets. The company is however planning to go beyond chips, as it creates a hardware-software platform.
“It’s about evolving all of the algorithms that sit on top of our GPUs,” Huang said. “It’s about making sure the experience just works.”