NVIDIA Announces Financial Results for Third Quarter Fiscal 2018

 

    NVIDIA CORPORATION    
    RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES    
  (In millions, except per share data)  
  (Unaudited)  
                       
          Three Months Ended       Nine Months Ended    
        October 29,   July 30,   October 30,   October 29,   October 30,  
          2017       2017       2016       2017       2016    
                           
  GAAP gross profit   $ 1,569     $ 1,302     $ 1,183     $ 4,021     $ 2,760    
  GAAP gross margin   59.5 %     58.4 %     59.0 %     59.1 %     58.3 %  
    Stock-based compensation expense (A)   6       4       3       14       11    
    Legal settlement costs   -       -       -       -       10    
  Non-GAAP gross profit $ 1,575     $ 1,306     $ 1,186     $ 4,035     $ 2,781    
  Non-GAAP gross margin   59.7 %     58.6 %     59.2 %     59.3 %     58.7 %  
                           
  GAAP operating expenses $ 674     $ 614     $ 544     $ 1,884     $ 1,559    
    Stock-based compensation expense (A)   (101 )     (77 )     (62 )     (251 )     (166 )  
    Legal settlement costs   -       -       -       -       (6 )  
    Acquisition-related costs (B)   (3 )     (4 )     (4 )     (11 )     (12 )  
    Contributions     -       -       -       (2 )     (4 )  
    Restructuring and other charges   -       -       -       -       (3 )  
  Non-GAAP operating expenses $ 570     $ 533     $ 478     $ 1,620     $ 1,368    
                           
  GAAP income from operations $ 895     $ 688     $ 639     $ 2,137     $ 1,201    
    Total impact of non-GAAP adjustments to income from operations   110       85       69       278       211    
  Non-GAAP income from operations $ 1,005     $ 773     $ 708     $ 2,415     $ 1,412    
                           
  GAAP other income (expense) $ 1     $ (4 )   $ (18 )   $ (20 )   $ (21 )  
    Gains from non-affiliated investments   -       -       -       -       (3 )  
    Interest expense related to amortization of debt discount   -       1       6       3       20    
    Loss on early debt conversions   1       3       15       19       15    
  Non-GAAP other income (expense) $ 2     $ -     $ 3     $ 2     $ 11    
                           
  GAAP net income   $ 838     $ 583     $ 542     $ 1,928     $ 1,012    
    Total pre-tax impact of non-GAAP adjustments   111       89       90       300       243    
    Income tax impact of non-GAAP adjustments (C)   (116 )     (34 )     (62 )     (224 )     (108 )  
  Non-GAAP net income $ 833     $ 638     $ 570     $ 2,004     $ 1,147    
                           
  Diluted net income per share                    
    GAAP   $ 1.33     $ 0.92     $ 0.83     $ 3.05     $ 1.59    
    Non-GAAP   $ 1.33     $ 1.01     $ 0.94     $ 3.20     $ 1.93    
                           
  Weighted average shares used in diluted net income per share computation                    
    GAAP     628       633       653       633       636    
    Anti-dilution impact from note hedge (D)     (2 )     (4 )     (45 )     (7 )     (42 )  
    Non-GAAP     626       629       608       626       594    
                           
  GAAP net cash provided by operating activities $ 1,157     $ 705     $ 432     $ 2,144     $ 951    
    Purchase of property and equipment and intangible assets   (69 )     (55 )     (38 )     (178 )     (125 )  
  Free cash flow   $ 1,088     $ 650     $ 394     $ 1,966     $ 826    
                           
     
                           
  (A) Stock-based compensation consists of the following: Three Months Ended   Nine Months Ended  
        October 29,   July 30,   October 30,   October 29,   October 30,  
          2017       2017       2016       2017       2016    
    Cost of revenue   $ 6     $ 4     $ 3     $ 14     $ 11    
    Research and development   $ 61     $ 44     $ 35     $ 146     $ 95    
    Sales, general and administrative   $ 40     $ 33     $ 27     $ 105     $ 71    
                           
  (B) Consists of amortization of acquisition-related intangible assets and compensation charges.  
                           
  (C) 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).  
                           
  (D) 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 »



Review Article Be the first to review this article


Featured Video
Latest Blog Posts
Alex Carrick, Chief Economist at ConstructConnectThe AEC Lens
by Alex Carrick, Chief Economist at ConstructConnect
Canada Generates Jobs Creation Excitement in September
Jobs
Structural Engineer for Kiewit at Lenexa, Kansas
Structural Engineer 2 (Engineer 2) for Los Alamos National Laboratory at Los Alamos,, New Mexico
Architect for Hutton at Wichita, Afghanistan
Design Engineer (Engineer 1/2) for Los Alamos National Laboratory at Los Alamos,, New Mexico
Mechanical Engineer for Flextronics at Milpitas, California
Failure Analysis Engineer for Flextronics at Milpitas, California
Upcoming Events
2020 Design-Build Conference & Expo! at Gaylord National Resort & Convention Center National Harbor MD - Oct 28 - 30, 2020
ABX | ArchitectureBoston Expo at Boston Convention & Exhibition Center Boston MA - Nov 4 - 5, 2020
Greenbuild 2020 at San Diego Convention Center San Diego CA - Nov 4 - 7, 2020
Kenesto: 30 day trial
Digital Cities
CADalog.com - Countless CAD add-ons, plug-ins and more.



© 2020 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