NVIDIA has reported revenue for the first quarter of fiscal 2015, ended April 27, 2014, of $1.103 billion, up 16 percent from a year earlier and down 4 percent from $1.144 billion in the previous quarter.

NVIDIA reported its financial results earlier this week because a preliminary draft had been inadvertently emailed to an internal distribution list of about 100 individuals. Figures contained in the May 6 release are unchanged in this release.GAAP earnings per diluted share were $0.24, up 85 percent from $0.13 a year earlier, and down 4 percent from $0.25 in the previous quarter. Non-GAAP earnings per diluted share were $0.29, up 61 percent from $0.18 a year earlier and down 9 percent from $0.32 in the previous quarter.

NVIDIA will pay its next quarterly cash dividend of $0.085 per share on June 13, 2014, to all stockholders of record on May 22, 2014. NVIDIA expects that a portion of this dividend payment may be considered a return of capital for U.S. federal income tax purposes.

"First quarter results benefited from gains in PC gaming and our continued progress in the data center and cloud," said Jen-Hsun Huang, president and chief executive officer of NVIDIA. "Nearly 600 enterprises worldwide are now evaluating GRID, our virtual GPU server platform. VMware announced support for GRID to enable GPU-accelerated enterprise virtualization. And with IBM, Dell and HP now selling our GPUs in their high-volume servers, we expect large-scale data centers to be a significant source of growth."

Among highlights of the first quarter of fiscal 2015, NVIDIA:

• Expanded its annual GPU Technology Conference, with 25 percent growth in attendees and sessions.
• Refreshed its notebook GPU line-up with new GeForce GTX 800M series products, including its first Maxwell-based products.
• Disclosed first details of its Pascal GPU architecture, which will succeed Maxwell. Pascal will feature NVLink interconnect technology, which will be incorporated in future POWER8 CPUs from IBM, and also 3D memory.
• Announced that NVIDIA GRID technology is available on the VMware Horizon DaaS Platform.
• Launched Jetson TK1, a development platform aimed at automotive, robotics and embedded applications.
• Joined with IBM, Google and others to launch the OpenPOWER Foundation, an initiative to bring IBM's POWER CPU to mainstream servers.

NVIDIA's outlook for the second quarter of fiscal 2015 is as follows:

• Revenue is expected to be $1.1 billion, plus or minus two percent.
• GAAP and non-GAAP margins are expected to be approximately 53.7 percent and 54.0 percent, respectively.
• GAAP operating expenses are expected to be approximately $457 million; non-GAAP operating expenses are expected to be approximately $414 million.
• GAAP and non-GAAP tax rates for the second quarter and annual fiscal 2015 are both expected to be 20 percent, plus or minus one percent. These estimates exclude any discrete tax events that may occur during the quarter, which, if realized, may increase or decrease our actual effective tax rates.
• Capital expenditures are expected to be approximately $40 million for the second quarter of fiscal 2015.