NVIDIA (NASDAQ: NVDA) today reported revenue for the first quarter
ended April 30, 2023, of $7.19 billion, down 13% from a year ago
and up 19% from the previous quarter.
GAAP earnings per diluted share for the quarter were $0.82, up
28% from a year ago and up 44% from the previous quarter. Non-GAAP
earnings per diluted share were $1.09, down 20% from a year ago and
up 24% from the previous quarter.
“The computer industry is going through two simultaneous
transitions — accelerated computing and generative AI,” said Jensen
Huang, founder and CEO of NVIDIA.
“A trillion dollars of installed global data center
infrastructure will transition from general purpose to accelerated
computing as companies race to apply generative AI into every
product, service and business process.
“Our entire data center family of products — H100, Grace CPU,
Grace Hopper Superchip, NVLink, Quantum 400 InfiniBand and
BlueField-3 DPU — is in production. We are significantly
increasing our supply to meet surging demand for them,” he
said.
During the first quarter of fiscal 2024, NVIDIA returned to
shareholders $99 million in cash dividends.
NVIDIA will pay its next quarterly cash dividend
of $0.04 per share on June 30, 2023, to all shareholders of record
on June 8, 2023.
Q1 Fiscal 2024 Summary
GAAP |
($ in millions, except earnings per share) |
Q1 FY24 |
Q4 FY23 |
Q1 FY23 |
Q/Q |
Y/Y |
Revenue |
$ |
7,192 |
|
$ |
6,051 |
|
$ |
8,288 |
|
Up 19% |
Down 13% |
Gross margin |
|
64.6 |
% |
|
63.3 |
% |
|
65.5 |
% |
Up 1.3 pts |
Down 0.9 pts |
Operating expenses |
$ |
2,508 |
|
$ |
2,576 |
|
$ |
3,563 |
|
Down 3% |
Down 30% |
Operating income |
$ |
2,140 |
|
$ |
1,257 |
|
$ |
1,868 |
|
Up 70% |
Up 15% |
Net income |
$ |
2,043 |
|
$ |
1,414 |
|
$ |
1,618 |
|
Up 44% |
Up 26% |
Diluted earnings per share |
$ |
0.82 |
|
$ |
0.57 |
|
$ |
0.64 |
|
Up 44% |
Up 28% |
Non-GAAP |
($ in millions, except earnings per share) |
Q1 FY24 |
Q4 FY23 |
Q1 FY23 |
Q/Q |
Y/Y |
Revenue |
$ |
7,192 |
|
$ |
6,051 |
|
$ |
8,288 |
|
Up 19% |
Down 13% |
Gross margin |
|
66.8 |
% |
|
66.1 |
% |
|
67.1 |
% |
Up 0.7 pts |
Down 0.3 pts |
Operating expenses |
$ |
1,750 |
|
$ |
1,775 |
|
$ |
1,608 |
|
Down 1% |
Up 9% |
Operating income |
$ |
3,052 |
|
$ |
2,224 |
|
$ |
3,955 |
|
Up 37% |
Down 23% |
Net income |
$ |
2,713 |
|
$ |
2,174 |
|
$ |
3,443 |
|
Up 25% |
Down 21% |
Diluted earnings per share |
$ |
1.09 |
|
$ |
0.88 |
|
$ |
1.36 |
|
Up 24% |
Down 20% |
OutlookNVIDIA’s outlook for the second quarter
of fiscal 2024 is as follows:
- Revenue is expected to be $11.00 billion, plus or minus
2%.
- GAAP and non-GAAP gross margins are expected to be 68.6% and
70.0%, respectively, plus or minus 50 basis points.
- GAAP and non-GAAP operating expenses are expected to be
approximately $2.71 billion and $1.90 billion, respectively.
- GAAP and non-GAAP other income and expense are expected to be
an income of approximately $90 million, excluding gains and losses
from non-affiliated investments.
- GAAP and non-GAAP tax rates are
expected to be 14.0%, plus or minus 1%, excluding any discrete
items.
Highlights
NVIDIA achieved progress since its previous earnings
announcement in these areas:
Data Center
- First-quarter revenue was a record $4.28 billion, up 14% from a
year ago and up 18% from the previous quarter.
- Launched four inference platforms that combine the company’s
full-stack inference software with the latest NVIDIA Ada, NVIDIA
Hopper™ and NVIDIA Grace Hopper™ processors.
- Announced that Google Cloud is the first cloud provider
offering the new NVIDIA L4 Tensor Core GPU to accelerate generative
AI applications.
- Introduced NVIDIA AI Foundations to help businesses create and
operate custom large language models and generative AI models
trained with their own proprietary data for domain-specific
tasks.
- Unveiled the NVIDIA cuLitho software library for computational
lithography to accelerate the design and manufacturing of next-gen
semiconductors.
- Expanded its partners offering new products and services based
on the NVIDIA H100 Tensor Core GPU — including Amazon Web Services,
Google Cloud, Microsoft Azure and Oracle Cloud Infrastructure.
- Partnered with ServiceNow to build generative AI across
enterprise IT.
- Announced a collaboration with Medtronic to build an AI
platform for medical devices.
- Joined with Dell Technologies in Project Helix to deliver
full-stack solutions to help enterprises build and deploy
trustworthy generative AI applications.
- Announced it is integrating NVIDIA AI Enterprise software into
Microsoft’s Azure Machine Learning to help enterprises accelerate
their AI initiatives.
Gaming
- First-quarter revenue was $2.24 billion, down 38% from a year
ago and up 22% from the previous quarter.
- Announced the GeForce RTX™ 4060 family of GPUs, bringing the
advancements of NVIDIA Ada Lovelace architecture and DLSS, starting
at $299.
- Launched the GeForce RTX 4070 GPU based on the Ada
architecture, which enables DLSS 3, real-time ray-tracing and the
ability to run most modern games at over 100 frames per second at
1440p resolution.
- Added 36 DLSS gaming titles, bringing the total number of games
and apps to 300.
- Made path tracing available for the first time on a major
gaming title through collaboration with CD PROJEKT RED on an update
to Cyberpunk 2077.
- Expanded GeForce NOW’s game titles to more than 1,600,
including the first Microsoft Xbox game, Gears 5.
Professional Visualization
- First-quarter revenue was $295 million, down 53% from a year
ago and up 31% from the previous quarter.
- Announced NVIDIA Omniverse™ Cloud, a fully managed service
running in Microsoft Azure, for the development and deployment of
industrial metaverse applications.
- Expanded its collaboration with Microsoft to connect Microsoft
365 applications with Omniverse.
- Announced six new NVIDIA RTX™ GPUs for mobile and desktop
workstations based on the Ada architecture.
Automotive
- First-quarter revenue was a record $296 million, up 114% from a
year ago and up 1% from the previous quarter.
- Announced that its automotive design win pipeline has grown to
$14 billion over the next six years, up from $11 billion a year
ago.
- Announced that the world’s leading electric vehicle maker BYD
will extend its use of NVIDIA DRIVE Orin™ across new models.
CFO CommentaryCommentary on the quarter by
Colette Kress, NVIDIA’s executive vice president and chief
financial officer, is available at
https://investor.nvidia.com/.
Conference Call and Webcast InformationNVIDIA
will conduct a conference call with analysts and investors to
discuss its first quarter fiscal 2024 financial results and current
financial prospects today at 2 p.m. Pacific time (5 p.m. Eastern
time). A live webcast (listen-only mode) of the conference call
will be accessible at NVIDIA’s investor relations website,
https://investor.nvidia.com. The webcast will be recorded and
available for replay until NVIDIA’s conference call to discuss its
financial results for its second quarter of fiscal 2024.
Non-GAAP MeasuresTo supplement NVIDIA’s
condensed consolidated financial statements presented in accordance
with GAAP, the company uses non-GAAP measures of certain components
of financial performance. These non-GAAP measures include non-GAAP
gross profit, non-GAAP gross margin, non-GAAP operating expenses,
non-GAAP income from operations, non-GAAP other income (expense),
net, non-GAAP net income, non-GAAP net income, or earnings, per
diluted share, and free cash flow. For NVIDIA’s investors to be
better able to compare its current results with those of previous
periods, the company has shown a reconciliation of GAAP to non-GAAP
financial measures. These reconciliations adjust the related GAAP
financial measures to exclude acquisition termination costs,
stock-based compensation expense, acquisition-related and other
costs, IP-related costs, legal settlement costs, other, losses from
non-affiliated investments, interest expense related to
amortization of debt discount, and the associated tax impact of
these items where applicable. Free cash flow is calculated as GAAP
net cash provided by operating activities less both purchases of
property and equipment and intangible assets and principal payments
on property and equipment and intangible assets. NVIDIA believes
the presentation of its non-GAAP financial measures enhances the
user’s overall understanding of the company’s historical financial
performance. The presentation of the company’s non-GAAP financial
measures is not meant to be considered in isolation or as a
substitute for the company’s financial results prepared in
accordance with GAAP, and the company’s non-GAAP measures may be
different from non-GAAP measures used by other companies.
About NVIDIASince its founding in 1993, NVIDIA
(NASDAQ: NVDA) has been a pioneer in accelerated computing. The
company’s invention of the GPU in 1999 sparked the growth of the PC
gaming market, redefined computer graphics, ignited the era of
modern AI and is fueling the creation of the industrial metaverse.
NVIDIA is now a full-stack computing company with data-center-scale
offerings that are reshaping industry. More information at
https://nvidianews.nvidia.com/.
For further information, contact:
Simona Jankowski |
|
Robert Sherbin |
Investor
Relations |
|
Corporate
Communications |
NVIDIA Corporation |
|
NVIDIA Corporation |
sjankowski@nvidia.com |
|
rsherbin@nvidia.com |
Certain statements in this press release including, but not
limited to, statements as to: the computer industry going through
two simultaneous transitions – accelerated computing and generative
AI; installed global data center infrastructure transitioning from
general purpose to accelerated computing as companies race to apply
generative AI into every product, service and business process;
NVIDIA’s entire data center family of products being in production;
NVIDIA significantly increasing supply to meet surging demand;
NVIDIA’s next quarterly cash dividend; NVIDIA’s financial outlook
and expected tax rates for the second quarter of fiscal 2024; the
benefits, impact, performance, features and availability of our
products and technologies, including NVIDIA Ada, NVIDIA Hopper,
NVIDIA Grace Hopper CPU, NVIDIA L4 Tensor Core GPU, NVIDIA AI
Foundations, NVIDIA cuLitho software library, NVIDIA H100 Tensor
Core GPU, NVIDIA AI Enterprise, GeForce RTX GPUs, DLSS 3, GeForce
NOW, NVIDIA Omniverse Cloud, Omniverse, NVIDIA RTX GPUs, and NVIDIA
DRIVE Orin; and the benefits and impact of our collaborations,
including with Google Cloud, Amazon Web Services, Microsoft Azure,
Oracle Cloud Infrastructure, ServiceNow, Medtronic, Dell
Technologies, CD PROJEKT RED, Microsoft, and BYD are
forward-looking statements that are subject to risks and
uncertainties that could cause results to be materially different
than expectations. Important factors that could cause actual
results to differ materially include: global economic conditions;
our reliance on third parties to manufacture, assemble, package and
test our products; the impact of technological development and
competition; development of new products and technologies or
enhancements to our existing product and technologies; market
acceptance of our products or our partners’ products; design,
manufacturing or software defects; changes in consumer preferences
or demands; changes in industry standards and interfaces;
unexpected loss of performance of our products or technologies when
integrated into systems; as well as other factors detailed from
time to time in the most recent reports NVIDIA files with the
Securities and Exchange Commission, or SEC, including, but not
limited to, its annual report on Form 10-K and quarterly reports on
Form 10-Q. Copies of reports filed with the SEC are posted on the
company’s website and are available from NVIDIA without charge.
These forward-looking statements are not guarantees of future
performance and speak only as of the date hereof, and, except as
required by law, NVIDIA disclaims any obligation to update these
forward-looking statements to reflect future events or
circumstances.
© 2023 NVIDIA Corporation. All rights reserved. NVIDIA, the
NVIDIA logo, GeForce, GeForce NOW, GeForce RTX, NVIDIA DRIVE Orin,
NVIDIA Grace Hopper, NVIDIA Hopper, NVIDIA Omniverse, and NVIDIA
RTX are trademarks and/or registered trademarks of NVIDIA
Corporation in the U.S. and/or other countries. Other company and
product names may be trademarks of the respective companies with
which they are associated. Features, pricing, availability, and
specifications are subject to change without notice.
NVIDIA
CORPORATION |
CONDENSED CONSOLIDATED STATEMENTS OF
INCOME |
(In millions, except
per share data) |
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
|
April
30, |
|
May
1, |
|
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
|
|
|
Revenue |
$ |
7,192 |
|
|
$ |
8,288 |
|
Cost of revenue |
|
2,544 |
|
|
|
2,857 |
|
Gross profit |
|
4,648 |
|
|
|
5,431 |
|
Operating expenses |
|
|
|
|
Research and development |
|
1,875 |
|
|
|
1,618 |
|
|
Sales, general and administrative |
|
633 |
|
|
|
592 |
|
|
Acquisition termination cost |
|
- |
|
|
|
1,353 |
|
|
|
Total
operating expenses |
|
2,508 |
|
|
|
3,563 |
|
Income from operations |
|
2,140 |
|
|
|
1,868 |
|
|
Interest income |
|
150 |
|
|
|
18 |
|
|
Interest expense |
|
(66 |
) |
|
|
(68 |
) |
|
Other, net |
|
(15 |
) |
|
|
(13 |
) |
|
|
Other income
(expense), net |
|
69 |
|
|
|
(63 |
) |
Income before income tax |
|
2,209 |
|
|
|
1,805 |
|
Income tax expense |
|
166 |
|
|
|
187 |
|
Net income |
$ |
2,043 |
|
|
$ |
1,618 |
|
|
|
|
|
|
|
Net income per share: |
|
|
|
|
Basic |
$ |
0.83 |
|
|
$ |
0.65 |
|
|
Diluted |
$ |
0.82 |
|
|
$ |
0.64 |
|
|
|
|
|
|
|
Weighted average shares used in per share computation: |
|
|
|
Basic |
|
2,470 |
|
|
|
2,506 |
|
|
Diluted |
|
2,490 |
|
|
|
2,537 |
|
|
|
|
|
NVIDIA
CORPORATION |
CONDENSED
CONSOLIDATED BALANCE SHEETS |
(In millions) |
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
April
30, |
|
January
29, |
|
|
|
2023 |
|
2023 |
ASSETS |
|
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
Cash, cash equivalents and marketable securities |
$ |
15,320 |
|
$ |
13,296 |
|
Accounts receivable, net |
|
4,080 |
|
|
3,827 |
|
Inventories |
|
4,611 |
|
|
5,159 |
|
Prepaid expenses and other current assets |
|
872 |
|
|
791 |
|
|
Total current assets |
|
24,883 |
|
|
23,073 |
|
|
|
|
|
|
Property and equipment, net |
|
3,740 |
|
|
3,807 |
Operating lease assets |
|
1,094 |
|
|
1,038 |
Goodwill |
|
4,430 |
|
|
4,372 |
Intangible assets, net |
|
1,541 |
|
|
1,676 |
Deferred income tax assets |
|
4,568 |
|
|
3,396 |
Other assets |
|
4,204 |
|
|
3,820 |
|
|
Total
assets |
$ |
44,460 |
|
$ |
41,182 |
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
Accounts payable |
$ |
1,141 |
|
$ |
1,193 |
|
Accrued and other current liabilities |
|
4,869 |
|
|
4,120 |
|
Short-term debt |
|
1,250 |
|
|
1,250 |
|
|
Total
current liabilities |
|
7,260 |
|
|
6,563 |
|
|
|
|
|
|
Long-term debt |
|
9,704 |
|
|
9,703 |
Long-term operating lease liabilities |
|
939 |
|
|
902 |
Other long-term liabilities |
|
2,037 |
|
|
1,913 |
|
|
Total
liabilities |
|
19,940 |
|
|
19,081 |
|
|
|
|
|
|
Shareholders' equity |
|
24,520 |
|
|
22,101 |
|
|
Total
liabilities and shareholders' equity |
$ |
44,460 |
|
$ |
41,182 |
|
|
|
|
|
|
NVIDIA
CORPORATION |
CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS |
(In millions) |
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
April
30, |
|
May
1, |
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
|
|
Cash flows from operating activities: |
|
|
|
Net income |
$ |
2,043 |
|
|
$ |
1,618 |
|
Adjustments to reconcile net income to net cash |
|
|
|
provided by operating activities: |
|
|
|
|
Stock based
compensation expense |
|
735 |
|
|
|
578 |
|
|
Depreciation
and amortization |
|
384 |
|
|
|
334 |
|
|
Losses on
investments in non affiliates, net |
|
14 |
|
|
|
17 |
|
|
Deferred
income taxes |
|
(1,135 |
) |
|
|
(542 |
) |
|
Acquisition
termination cost |
|
- |
|
|
|
1,353 |
|
|
Other |
|
(34 |
) |
|
|
23 |
|
Changes in operating assets and liabilities, net of
acquisitions: |
|
|
|
|
Accounts
receivable |
|
(252 |
) |
|
|
(788 |
) |
|
Inventories |
|
566 |
|
|
|
(560 |
) |
|
Prepaid
expenses and other assets |
|
(215 |
) |
|
|
(1,261 |
) |
|
Accounts
payable |
|
11 |
|
|
|
255 |
|
|
Accrued
liabilities and other current liabilities |
|
689 |
|
|
|
634 |
|
|
Other
long-term liabilities |
|
105 |
|
|
|
70 |
|
Net cash provided by operating activities |
|
2,911 |
|
|
|
1,731 |
|
Cash flows from investing activities: |
|
|
|
|
Proceeds
from maturities of marketable securities |
|
2,512 |
|
|
|
5,947 |
|
|
Proceeds
from sales of marketable securities |
|
- |
|
|
|
1,029 |
|
|
Purchases of
marketable securities |
|
(2,801 |
) |
|
|
(3,932 |
) |
|
Purchase
related to property and equipment and intangible assets |
|
(248 |
) |
|
|
(361 |
) |
|
Acquisitions, net of cash acquired |
|
(83 |
) |
|
|
(36 |
) |
|
Investments
and other, net |
|
(221 |
) |
|
|
(35 |
) |
Net cash provided by (used in) investing activities |
|
(841 |
) |
|
|
2,612 |
|
Cash flows from financing activities: |
|
|
|
|
Proceeds
related to employee stock plans |
|
246 |
|
|
|
204 |
|
|
Payments
related to tax on restricted stock units |
|
(507 |
) |
|
|
(532 |
) |
|
Dividends
paid |
|
(99 |
) |
|
|
(100 |
) |
|
Principal
payments on property and equipment and intangible assets |
|
(20 |
) |
|
|
(22 |
) |
|
Payments
related to repurchases of common stock |
|
- |
|
|
|
(1,996 |
) |
Net cash provided by (used in) financing activities |
|
(380 |
) |
|
|
(2,446 |
) |
Change in cash and cash equivalents |
|
1,690 |
|
|
|
1,897 |
|
Cash and cash equivalents at beginning of period |
|
3,389 |
|
|
|
1,990 |
|
Cash and cash equivalents at end of period |
$ |
5,079 |
|
|
$ |
3,887 |
|
|
|
|
|
|
NVIDIA
CORPORATION |
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL
MEASURES |
(In millions, except
per share data) |
(Unaudited) |
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
April
30, |
|
January
29, |
|
May
1, |
|
|
|
2023 |
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
|
|
|
|
GAAP gross profit |
$ |
4,648 |
|
|
$ |
3,833 |
|
|
$ |
5,431 |
|
GAAP gross margin |
|
64.6 |
% |
|
|
63.3 |
% |
|
|
65.5 |
% |
|
Acquisition-related and other costs (A) |
|
119 |
|
|
|
120 |
|
|
|
94 |
|
|
Stock-based
compensation expense (B) |
|
27 |
|
|
|
30 |
|
|
|
38 |
|
|
IP-related
costs |
|
8 |
|
|
|
16 |
|
|
|
- |
|
Non-GAAP gross profit |
$ |
4,802 |
|
|
$ |
3,999 |
|
|
$ |
5,563 |
|
Non-GAAP gross margin |
|
66.8 |
% |
|
|
66.1 |
% |
|
|
67.1 |
% |
|
|
|
|
|
|
|
GAAP operating expenses |
$ |
2,508 |
|
|
$ |
2,576 |
|
|
$ |
3,563 |
|
|
Stock-based
compensation expense (B) |
|
(708 |
) |
|
|
(709 |
) |
|
|
(540 |
) |
|
Acquisition-related and other costs (A) |
|
(54 |
) |
|
|
(54 |
) |
|
|
(55 |
) |
|
Acquisition
termination cost |
|
- |
|
|
|
- |
|
|
|
(1,353 |
) |
|
Legal
settlement costs |
|
- |
|
|
|
- |
|
|
|
(7 |
) |
|
Other
(C) |
|
4 |
|
|
|
(38 |
) |
|
|
- |
|
Non-GAAP operating expenses |
$ |
1,750 |
|
|
$ |
1,775 |
|
|
$ |
1,608 |
|
|
|
|
|
|
|
|
GAAP income from operations |
$ |
2,140 |
|
|
$ |
1,257 |
|
|
$ |
1,868 |
|
|
Total impact
of non-GAAP adjustments to income from operations |
|
912 |
|
|
|
967 |
|
|
|
2,087 |
|
Non-GAAP income from operations |
$ |
3,052 |
|
|
$ |
2,224 |
|
|
$ |
3,955 |
|
|
|
|
|
|
|
|
GAAP other income (expense), net |
$ |
69 |
|
|
$ |
32 |
|
|
$ |
(63 |
) |
|
Losses from
non-affiliated investments |
|
14 |
|
|
|
10 |
|
|
|
17 |
|
|
Interest
expense related to amortization of debt discount |
|
1 |
|
|
|
1 |
|
|
|
1 |
|
Non-GAAP other income (expense), net |
$ |
84 |
|
|
$ |
43 |
|
|
$ |
(45 |
) |
|
|
|
|
|
|
|
GAAP net income |
$ |
2,043 |
|
|
$ |
1,414 |
|
|
$ |
1,618 |
|
|
Total
pre-tax impact of non-GAAP adjustments |
|
927 |
|
|
|
978 |
|
|
|
2,105 |
|
|
Income tax
impact of non-GAAP adjustments (D) |
|
(257 |
) |
|
|
(218 |
) |
|
|
(280 |
) |
Non-GAAP net income |
$ |
2,713 |
|
|
$ |
2,174 |
|
|
$ |
3,443 |
|
|
|
|
|
|
|
|
Diluted net income per share |
|
|
|
|
|
|
GAAP |
$ |
0.82 |
|
|
$ |
0.57 |
|
|
$ |
0.64 |
|
|
Non-GAAP |
$ |
1.09 |
|
|
$ |
0.88 |
|
|
$ |
1.36 |
|
|
|
|
|
|
|
|
Weighted average shares used in diluted net income per share
computation |
|
2,490 |
|
|
|
2,477 |
|
|
|
2,537 |
|
|
|
|
|
|
|
|
GAAP net cash provided by operating activities |
$ |
2,911 |
|
|
$ |
2,249 |
|
|
$ |
1,731 |
|
|
Purchases
related to property and equipment and intangible assets |
|
(248 |
) |
|
|
(509 |
) |
|
|
(361 |
) |
|
Principal
payments on property and equipment and intangible assets |
|
(20 |
) |
|
|
(4 |
) |
|
|
(22 |
) |
Free cash flow |
$ |
2,643 |
|
|
$ |
1,736 |
|
|
$ |
1,348 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(A) Acquisition-related and other costs are comprised of
amortization of intangible assets, transaction costs, and certain
compensation charges and are included in the following line
items: |
|
|
Three Months Ended |
|
|
April
30, |
|
January
29, |
|
May 1, |
|
|
|
2023 |
|
|
|
2023 |
|
|
|
2022 |
|
|
Cost of revenue |
$ |
119 |
|
|
$ |
120 |
|
|
$ |
94 |
|
|
Research and development |
$ |
12 |
|
|
$ |
10 |
|
|
$ |
9 |
|
|
Sales, general and administrative |
$ |
42 |
|
|
$ |
44 |
|
|
$ |
46 |
|
|
|
|
|
|
|
|
(B) Stock-based compensation consists of the following: |
|
|
|
Three Months Ended |
|
|
April
30, |
|
January
29, |
|
May 1, |
|
|
|
2023 |
|
|
|
2023 |
|
|
|
2022 |
|
|
Cost of revenue |
$ |
27 |
|
|
$ |
30 |
|
|
$ |
38 |
|
|
Research and development |
$ |
524 |
|
|
$ |
527 |
|
|
$ |
384 |
|
|
Sales, general and administrative |
$ |
184 |
|
|
$ |
182 |
|
|
$ |
156 |
|
|
|
|
|
|
|
|
(C) Other consists of assets held for sale related
adjustments. |
|
|
|
|
|
|
|
|
|
|
|
|
(D) Income tax impact of non-GAAP adjustments, including the
recognition of excess tax benefits or deficiencies related to
stock-based compensation under GAAP accounting standard (ASU
2016-09). |
|
|
|
|
|
|
|
NVIDIA
CORPORATION |
RECONCILIATION OF GAAP TO NON-GAAP OUTLOOK |
|
|
|
|
|
|
Q2 FY2024 Outlook |
|
|
($ in millions) |
|
|
|
GAAP gross margin |
|
68.6 |
% |
|
Impact of stock-based compensation expense, acquisition-related
costs, and other costs |
|
1.4 |
% |
Non-GAAP gross margin |
|
70.0 |
% |
|
|
|
GAAP operating expenses |
$ |
2,710 |
|
|
Stock-based
compensation expense, acquisition-related costs, and other
costs |
|
(810 |
) |
Non-GAAP operating expenses |
$ |
1,900 |
|
|
|
|
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/463fe102-9bba-4d9e-931c-3c5898b67a27
NVIDIA (NASDAQ:NVDA)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
NVIDIA (NASDAQ:NVDA)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024