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NVIDIA Corporation (NVDA)
Q4 2011 Earnings Call
February 16, 2011 5:00 pm ET
David White - Chief Financial Officer, Principal Accounting Officer and Executive Vice President
Michael Hara - Senior Vice President of Investor Relations & Communications
Jen-Hsun Huang - Co-Founder, Chief Executive Officer, President and Director
Craig Berger - FBR Capital Markets & Co.
Shawn Webster - Macquarie Research
Uche Orji - UBS Investment Bank
Glen Yeung - Citigroup Inc
James Schneider - Goldman Sachs Group Inc.
Vijay Rakesh - Sterne Agee & Leach Inc.
Harlan Sur - JP Morgan Chase & Co
Kevin Cassidy - Stifel, Nicolaus & Co., Inc.
Patrick Wang - Wedbush Securities Inc.
Raj Seth - Cowen and Company, LLC
Timothy Luke - Barclays Capital
Doug Freedman - Gleacher & Company, Inc.
Previous Statements by NVDA
» NVIDIA Q1 2011 Earnings Call Transcript
» NVIDIA Corporation F4Q10 (Qtr End 01/30/10) Earnings Call Transcript
» NVIDIA F3Q10 (Qtr End 10/25/09) Earnings Call Transcript
Thank you, Philip. Good afternoon, and welcome to NVIDIA's conference call for the fourth quarter of fiscal 2011. With me on the call today are from NVIDIA are Jen-Hsun Huang, President and Chief Executive Officer; and David White, Chief Financial Officer. After our prepared remarks, we will open up the call to question-and-answer session. Please limit yourself to one initial question with one follow-up question.
Before we begin, I would like to remind you that today's call is being webcast live on NVIDIA's Investor Relations website and is also being recorded. A replay of the conference call will be available via telephone until February 23, 2011, and the webcast will be available for replay until our conference call to discuss our financial results for our first quarter fiscal 2012. The content of today's conference call is NVIDIA's property and cannot be reproduced or transcribed without our prior written consent.
During the course of this call, we may make forward-looking statements based on current expectations. These forward-looking statements are subject to a number of significant risks and uncertainties, and our actual results may differ materially. For a discussion of factors that could affect our future financial results and business, please refer to the disclosure in today's earnings release, our Form 10-Q for the fiscal period ended October 31, 2010, and the reports we may file from time to time on Form 8-K filed with the Securities and Exchange Commission.
All our statements are made as of today, February 16, 2011, based on information available to us as of today and that except as required by law, we assume no obligation to update any such statements. Unless otherwise noted, all references to market research and market share numbers throughout the call come from Mercury Research or Jon Peddie Research.
I would also like to remind everyone about our upcoming financial analyst day on March 8, taking place at our headquarters in Santa Clara. If you are interested in attending, you can register on our investor website. With that, let's begin.
Last month, NVIDIA and TSMC shipped our 1 billionth GeForce GPU. This milestone is less than 12 years in the making, and over that period of time, the complexity of the GPU has increased more than 1,000x. Having advanced from being a fixed-function graphics accelerator to one of the most powerful programmable computing devices in the world, the GPU is enabling enormous progress in computers ranging from smartphones and tablets to PCs and game consoles to work stations and supercomputers. And in that time, the GPU has become the defining technology for every platform that uses it. Our new $1.5 billion cross-licensing agreement with Intel underscores the growing importance of the GPU to the future of personal computing as well as to the expanding markets for mobile and cloud computing.
Heading into the year, we have one of the best lineups of GPUs in the company's history. The GTX 580 remains in the top spot as the fastest DX11 GPU for enthusiast gamers. We extended our DX11 technology leadership with the launch of the GTX 570 and the GTX 560 Ti, heralded by reviewers as category leaders for the $349 and $249 core gamer price segments.
Our GTX product stack is the gamers' choice and the results show. For the second consecutive quarter, our desktop standalone GPU share grew, increasing from 59% in Q3 to 61% in Q4, with higher share gains in the performance and enthusiasts segments. And aside from our expectation to continue to gain share, there are several big events this year that can be catalysts for growth. First, Intel Sandy Bridge is the best gamer CPU in a long time. And with the SLI motherboards from Intel, ASUS, Gigabyte and others, along with the new GTX 560 Ti, it offers gamers a perfect opportunity to upgrade their PC.
Second, great games drive GeForce GTX sales. And this year, we expect to see a number highly anticipated games such as Crysis 2, Battlefield 3, Duke Nukem Forever, Portal 2 and Diablo III. And third, 3D Vision is all about enjoying games at a whole new level. Driven by great new 3D Vision licensed products such as Acer's new 27-inch 3D Vision panel and Dell's XPS 17-inch 3D Vision notebook, we expect the 3D Vision to grow 200% this year. NVIDIA's 3D Vision content ecosystem is the largest in the industry, the support for over 500 video games, Blu-ray movies, and our new 3D Web portal, 3dvisionlive.com, which offers a wealth of streaming video and photographs.