Nvidia has announced its first quarter of 2016 fiscal year results, reporting a revenue of US $1.151 billion, up by 4 percent compared to the same quarter last year.

Nvidia also reported a record gross margin quarter at 56.7 percent with net income of US $134 million, which was down by 2 percent compared to the same quarter last year. Compared to the previous quarter, revenue was down by 8 percent while net income was down by 31 percent, mostly due to the expected state of the GPU market in this period.

Nvidia decided to wind down the Icera modem operations, which is not surprising considering that it got out of smartphone chip market and this will have a significant impact on Nvidia's FY 2016 results.

When it comes to individual segments of the company, GPU unit made the most for the company reporting a revenue of US $940 million in Q1. While the revenue was expectedly down by 12 percent compared to the last quarter, it was also up by 5 percent compared to the same quarter last year.

Tegra division made US $145 million, which was up by 29 percent compared to the last quarter and up by 4 percent compared to the same quarter last year. Other division scored US $66 million in revenue which is pretty much what it got during last quarter and the same quarter last year.

This was a great quarter for Nvidia as the company launched both the Geforce Titan X graphics card and the Nvidia Shield set top box, and expects a revenue of US $1.01 billion for the next quarter.



Source: Nvidia.com.