NVIDIA is living high on the hog and has been for the last several years thanks to ATI/AMD’s combined woes and seeming inability to turn out video cards capable of competing with NVIDIA’s offerings across the range.

NVIDIA has announced its fiscal Q1 2009 earnings report and shows a 37% revenue growth and a 34% net income growth year-over-year. Revenue for Q1 fiscal 2009 was a massive $1.15 billion compared to $844.3 million Q1 fiscal 2008.

Net income for the Q1 fiscal 2009 is $176.8 million of $0.30 per diluted share. "The growth of GPUs continues to outpace the PC market. We shipped 42 percent more GPUs this quarter compared to the same period a year ago, resulting in our best first quarter ever," said Jen-Hsun Huang, president and CEO of NVIDIA. "This is the era of visual computing. With a few hundred million GeForce GPUs in the market, developers can now confidently create applications with dazzling graphics. Amazing applications with beautiful graphics are showing up on the Web constantly, driving even faster adoption of GPUs. We expect this positive feedback loop to continue to drive our growth."

Via NVIDIA