NVIDIA increased revenues by15.3% quarter on quarter. The record GAAP gross margins of 52.9% was due to a continued shift to the new Kepler architecture. GAAP net income reached $209.1 million and $0.33 earnings per share.
Non-PC revenues came in at 30% of revenues and is a clear indication of the trends lifting the company in the future. And the professional products are growing as well - Tesla and Quadro innovations include further developments in NVIDIA's Maximus technology which allows Tesla and Quadro to work in tandem in your computer enabling workflows that include simulation and visualization simultaneously.
Tesla shipments increased and included a large delivery of Kepler-based Tesla products for the Titan Super-computer. Quadro sales were essentially flat due to softness in the enterprise market.
The board of directors approved a quarterly dividend and an extension to the stock repurchase program. NVIDIA feels that it has a strong cash position and positive for its business to continue to generate cash for investing in its business and returning cash to its shareholders.