NVIDIA Announces Financial Results for Third Quarter Fiscal 2019

 

  NVIDIA CORPORATION  
  RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES  
 (In millions, except per share data) 
 (Unaudited) 
           
      Three Months Ended       Nine Months Ended  
    October 28,  July 29,  October 29,  October 28,  October 29,
     2018    2018    2017    2018    2017 
            
GAAP gross profit $  1,921  $  1,975  $  1,569  $  5,964  $  4,021 
  GAAP gross margin 60.4%  63.3%  59.5%  62.7%  59.1%
 Stock-based compensation expense (A)   5     8     6     21     14 
 Legal settlement costs   14     -      -      14     -  
Non-GAAP gross profit$  1,940  $  1,983  $  1,575  $  5,999  $  4,035 
  Non-GAAP gross margin 61.0%  63.5%     59.7 %     63.1 %     59.3 %
                       
GAAP operating expenses $   863     $   818     $   674     $   2,454     $   1,884  
  Stock-based compensation expense (A)       (135 )       (124 )       (101 )       (379 )       (251 )
  Acquisition-related costs (B)     (1 )       (2 )       (3 )       (5 )       (11 )
  Legal settlement costs     (1 )       -          -          (3 )       -   
  Restructuring and other     4         -          -          4         -   
  Contributions       -          -          -          -          (2 )
Non-GAAP operating expenses $   730     $   692     $   570     $   2,071     $   1,620  
                       
GAAP income from operations $   1,058     $   1,157     $   895     $   3,510     $   2,137  
  Total impact of non-GAAP adjustments to income from operations     152         133         110         418         278  
Non-GAAP income from operations $   1,210     $   1,290     $   1,005     $   3,928     $   2,415  
                       
GAAP other income (expense) $   23     $   23     $   1     $   62     $   (20 )
  Gains from non-affiliated investments (C)     (2 )       (2 )       -          (11 )       -   
  Interest expense related to amortization of debt discount     -          -          -          1         3  
  Debt-related costs (D)     -          -          1         -          19  
Non-GAAP other income (expense)  $   21     $   21     $   2     $   52     $   2  
                       
GAAP net income   $   1,230     $   1,101     $   838     $   3,575     $   1,928  
  Total pre-tax impact of non-GAAP adjustments     150         131         111         409         300  
  Income tax impact of non-GAAP adjustments (E)     (91 )       (22 )       (116 )       (199 )       (224 )
  Tax benefit from income tax reform     (138 )       -          -          (138 )       -   
Non-GAAP net income  $   1,151     $   1,210     $   833     $   3,647     $   2,004  
                       
Diluted net income per share                  
  GAAP   $   1.97     $   1.76     $   1.33     $   5.71     $   3.05  
  Non-GAAP    $   1.84     $   1.94     $   1.33     $   5.83     $   3.20  
                       
Weighted average shares used in diluted net income per share computation                  
  GAAP       625         626         628         626         633  
  Anti-dilution impact from note hedge (F)       -          (1 )       (2 )       -         (7 )
  Non-GAAP        625         625         626         626         626  
                       
GAAP net cash provided by operating activities $   487     $   913     $   1,157     $   2,845     $   2,144  
  Purchase of property and equipment and intangible assets     (150 )       (128 )       (69 )       (397 )       (178 )
Free cash flow   $   337     $   785     $   1,088     $   2,448     $   1,966  
                       
 
                       
(A) Stock-based compensation consists of the following: Three Months Ended   Nine Months Ended
      October 28,   July 29,   October 29,   October 28,   October 29,
        2018       2018       2017       2018       2017  
  Cost of revenue   $   5     $   8     $   6     $   21     $   14  
  Research and development   $   88     $   76     $   61     $   237     $   146  
  Sales, general and administrative   $   47     $   48     $   40     $   142     $   105  
                       
(B) Consists of amortization of acquisition-related intangible assets and compensation charges.        
                       
(C) Consists of unrealized gains from non-affiliated investments.  
                       
(D) Consists of loss on early debt conversions.  
                       
(E) 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).
                       
(F) Represents the number of shares that would be delivered upon conversion of the currently outstanding 1.00% Convertible Senior Notes Due 2018. Under GAAP, shares delivered in hedge transactions are not considered offsetting shares in the fully diluted share calculation until actually delivered. 
                       

« Previous Page 1 | 2 | 3 | 4 | 5  Next Page »
Featured Video
Latest Blog Posts
Sanjay GangalAECCafe Today
by Sanjay Gangal
AEC Industry Predictions for 2025 — vGIS
Sanjay GangalIndustry Predictions
by Sanjay Gangal
AEC Industry Predictions for 2025 — QeCAD
Jobs
Business Development Manager for Berntsen International, Inc. at Madison, Wisconsin
Upcoming Events
Consumer Electronics Show 2025 - CES 2025 at Las Vegas Convention Center Las Vegas NV - Jan 7 - 10, 2025
Commercial UAV Expo 2025 at Amsterdam Netherlands - Apr 8 - 10, 2025
Commercial UAV Expo 2025 at RAI Amsterdam Amsterdam Netherlands - Apr 8 - 11, 2025
Geospatial World Forum 2025 at Madrid Marriott Auditorium Madrid Spain - Apr 22 - 25, 2025



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
TechJobsCafe - Technical Jobs and Resumes EDACafe - Electronic Design Automation GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise