NVIDIA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In millions, except per share data)
(Unaudited)
Three Months Ended Six Months Ended
-------------------- --------------------
July 30, July 31, July 30, July 31,
2017 2016 2017 2016
--------- --------- --------- ---------
Revenue $ 2,230 $ 1,428 $ 4,167 $ 2,733
Cost of revenue 928 602 1,715 1,156
--------- --------- --------- ---------
Gross profit 1,302 826 2,452 1,577
Operating expenses
Research and development 416 350 827 697
Sales, general and
administrative 198 157 383 316
Restructuring and other
charges - 2 - 3
--------- --------- --------- ---------
Total operating expenses 614 509 1,210 1,016
--------- --------- --------- ---------
Income from operations 688 317 1,242 561
Interest income 15 12 31 23
Interest expense (15) (12) (31) (23)
Other, net (4) - (21) (3)
--------- --------- --------- ---------
Total other income (expense) (4) - (21) (3)
--------- --------- --------- ---------
Income before income tax expense 684 317 1,221 558
Income tax expense 101 56 130 89
--------- --------- --------- ---------
Net income $ 583 $ 261 $ 1,091 $ 469
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Net income per share:
Basic $ 0.98 $ 0.49 $ 1.83 $ 0.88
========= ========= ========= =========
Diluted $ 0.92 $ 0.41 $ 1.71 $ 0.76
========= ========= ========= =========
Weighted average shares used in
per share computation:
Basic 597 534 595 536
Diluted 633 634 637 620
NVIDIA CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions)
(Unaudited)
July 30, January 29,
2017 2017
----------- -----------
ASSETS
Current assets:
Cash, cash equivalents and marketable securities $ 5,877 $ 6,798
Accounts receivable, net 1,213 826
Inventories 855 794
Prepaid expenses and other current assets 125 118
----------- -----------
Total current assets 8,070 8,536
Property and equipment, net 578 521
Goodwill 618 618
Intangible assets, net 76 104
Other assets 60 62
----------- -----------
Total assets $ 9,402 $ 9,841
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LIABILITIES, CONVERTIBLE DEBT CONVERSION OBLIGATION
AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 431 $ 485
Accrued and other current liabilities 517 507
Convertible short-term debt 84 796
----------- -----------
Total current liabilities 1,032 1,788
Long-term debt 1,984 1,983
Other long-term liabilities 408 271
Capital lease obligations, long-term 3 6
----------- -----------
Total liabilities 3,427 4,048
Convertible debt conversion obligation 2 31
Shareholders' equity 5,973 5,762
----------- -----------
Total liabilities, convertible debt conversion
obligation and shareholders' equity $ 9,402 $ 9,841
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