NVIDIA has reported revenue for Q1 of fiscal 2014, ended April 28, 2013, of US$954.7 million, down 13.7 percent from US$1.11 billion in Q4 of fiscal 2013.
GAAP earnings per diluted share were US$0.13, down 53.6 percent from US$0.28 in the prior quarter. Non-GAAP earnings per diluted share were US$0.18, down 48.6 percent from US$0.35 in the prior quarter.
As previously announced, NVIDIA plans to return in excess of $1 billion this fiscal year to shareholders in the form of share repurchases and quarterly dividend payments. During Q1, NVIDIA returned US$146.3 million to shareholders by repurchasing US$100 million of shares, and paying US$46.3 million of dividends, or US$0.075 per share.
As part of its capital return programme, the company plans to continue its quarterly dividend program at US$0.075 per share and to return additional cash of at least US$750 million during fiscal 2014, largely through a structured share repurchase program.
“The success of Kepler-based GPUs within and beyond the PC helped drive another quarter of record margins,” said Jen-Hsun Huang, President and Chief Executive Officer of NVIDIA. “Kepler is capturing share among gamers, strengthening our workstation and supercomputing segments, and will fuel new growth opportunities for our GRID server graphics solutions. With Tegra 4 devices and Tegra 4i certification on the way, we’re gearing up to return to growth in the second half.”