NVIDIA Announces Financial Results for Fourth Quarter and Fiscal 2022


For further information, contact:

Simona Jankowski Robert Sherbin
Investor Relations  Corporate Communications
NVIDIA Corporation NVIDIA Corporation
Email Contact  Email Contact

Certain statements in this press release including, but not limited to, statements as to: the benefits, performance, impact, and abilities of our products and technologies, including NVIDIA AI, NVIDIA Omniverse, NVIDIA DRIVE, the GeForce RTX 3050 desktop GPU, GeForce RTX 3080 Ti and RTX 3070 Ti laptop GPUs, Studio GeForce, NVIDIA Reflex, GeForce NOW, NVIDIA DGX A100 systems, NVIDIA AI Enterprise 1.1, NVIDIA FLARE, NVIDIA Clara, NVIDIA Omniverse for Creators, Omniverse Universal Scene Description, NVIDIA GPU-accelerated software, NVIDIA DRIVE Orin, NVIDIA DRIVE Hyperion, and the Isaac Autonomous Mobile Robot platform; the momentum across our businesses; NVIDIA propelling advances in AI, digital biology, climate sciences, gaming, creative design, autonomous vehicles and robotics; our upcoming developer conference at GTC; our plans to announce many new products, applications, and partners for NVIDIA computing at GTC; our collaborations with AT&T and Samsung and our partnership with Jaguar Land Rover; NVIDIA’s next quarterly cash dividend; our intention to record a charge in connection with the termination of the Share Purchase Agreement related to Arm Limited; NVIDIA’s financial outlook for the first quarter of fiscal 2023; and NVIDIA’s expected tax rates for the first quarter of fiscal 2023 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.

© 2022 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, GeForce, GeForce NOW, GeForce RTX, NVIDIA Clara, NVIDIA DGX, NVIDIA DRIVE, NVIDIA DRIVE Hyperion, NVIDIA DRIVE Orin, NVIDIA Isaac and NVIDIA Omniverse 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  Twelve Months Ended 
    January 30,   January 31,  January 30,   January 31, 
     2022    2021       2022       2021    
                     
Revenue $ 7,643     $ 5,003     $ 26,914     $ 16,675    
Cost of revenue   2,644       1,846       9,439       6,279    
Gross profit   4,999       3,157       17,475       10,396    
Operating expenses                
  Research and development   1,466       1,147       5,268       3,924    
  Sales, general and administrative   563       503       2,166       1,940    
    Total operating expenses   2,029       1,650       7,434       5,864    
Income from operations   2,970       1,507       10,041       4,532    
  Interest income   9       6       29       57    
  Interest expense   (61 )     (53 )     (236 )     (184 )  
  Other, net   (53 )     10       107       4    
    Other income (expense), net   (105 )     (37 )     (100 )     (123 )  
Income before income tax   2,865       1,470       9,941       4,409    
Income tax expense (benefit)   (138 )     13       189       77    
Net income $ 3,003     $ 1,457     $ 9,752     $ 4,332    
                     
Net income per share (A):                
  Basic $ 1.20     $ 0.59     $ 3.91     $ 1.76    
  Diluted $ 1.18     $ 0.58     $ 3.85     $ 1.73    
                     
Weighted average shares used in per share computation (A):              
  Basic   2,504       2,478       2,496       2,467    
  Diluted   2,545       2,524       2,535       2,510    
                     
(A) Reflects a four-for-one stock split on July 19, 2021.  
                     

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