NVIDIA's Q1FY2013 Results

For the quarter,NVIDIA  reported revenue of $924.9 million, down 3% sequentially and off 4% from a year ago, but ahead of the Street consensus at $916.2 million. GAAP profits of 10 cents a share matched Street estimates. Non-GAAP profits in the quarter were 16 cents a share.

 NVIDIA reported strong demand for its newly launched chips for desktop computers and contract wins for its Tegra smartphone chips but said revenue and profit is still being limited by supply constraints and macro economic issues.

 For FY Q2, the company sees revenue of $990 million to $1.05 billion, ahead of the Street at $976.2 million. The company sees GAAP gross margin of 51.2%, with non-GAAP gross margin of 51.5%; in the first quarter GAAP gross margin was 50.1%, and non-GAAP gross margin was 50.4%.

-Vlad