NVIDIA Reports Financial Results for First Quarter Fiscal 2014

NVIDIA today reported revenue for the first quarter of fiscal 2014, ended April 28, 2013, of $954.7 million, down 13.7 percent from $1.11 billion in the fourth quarter of fiscal 2013. GAAP earnings per diluted share were $0.13, down 53.6 percent from $0.28 in the prior quarter. Non-GAAP earnings per diluted share were $0.18, down 48.6 percent from $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 the first quarter, NVIDIA returned $146.3 million to shareholders by repurchasing $100 million of shares, and paying $46.3 million of dividends, or $0.075 per share. As part of NVIDIA's capital return program, the company plans to continue its quarterly dividend program at $0.075 per share and to return additional cash of at least $750 million during fiscal 2014, largely through a structured share repurchase program.

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