Early Access

10-QPeriod: Q1 FY2018

NVIDIA CORP Quarterly Report for Q1 Ended Apr 30, 2017

Filed May 23, 2017For Securities:NVDA

Summary

NVIDIA Corporation reported strong financial results for the first quarter of fiscal year 2018, ending April 30, 2017. Revenue surged by 48% year-over-year to $1.94 billion, driven primarily by a significant 45% increase in the GPU business and a remarkable 108% jump in the Tegra Processor business. The company's net income more than doubled, reaching $507 million, translating to a diluted EPS of $0.79, up from $0.35 in the prior year period. This robust performance was fueled by exceptional demand in the datacenter segment, up 186% year-over-year, and continued strength in gaming, along with contributions from the Nintendo Switch via the Tegra processor. NVIDIA's financial health remains strong, with $6.21 billion in cash, cash equivalents, and marketable securities. The company continues to prioritize capital returns to shareholders, planning to return $1.25 billion through dividends and share repurchases in fiscal year 2018. Despite a sequential dip in revenue from the prior quarter, the year-over-year growth indicates strong underlying momentum, particularly in high-growth areas like AI and gaming.

Financial Highlights

54 data points
Beta

Revenue

$1.94B

0.6% Gross Margin

Net Income

$507.00M

0.3% Net Margin

EPS (Diluted)

$0.02

Total Assets

$9.41B

Cash & Equivalents

$1.99B

Free Cash Flow

$228.00M

Financial Statements
Beta
Revenue$1.94B
Cost of Revenue$787.00M
Gross Profit$1.15B
R&D Expenses$411.00M
SG&A Expenses$185.00M
Operating Expenses$596.00M
Operating Income$554.00M
Interest Expense$16.00M
Net Income$507.00M
EPS (Basic)$0.02
EPS (Diluted)$0.02
Shares Outstanding (Basic)23.68B
Shares Outstanding (Diluted)25.64B

Key Highlights

  • 1Revenue increased by a substantial 48% year-over-year to $1.937 billion.
  • 2Net income more than doubled, rising from $208 million to $507 million.
  • 3Diluted earnings per share (EPS) significantly increased from $0.35 to $0.79.
  • 4The GPU business saw a 45% year-over-year revenue increase, with Datacenter revenue up an impressive 186%.
  • 5The Tegra Processor business more than doubled its revenue year-over-year, growing by 108%, partly due to the Nintendo Switch.
  • 6Operating expenses increased by 18% year-over-year, reflecting investments in growth initiatives.
  • 7The company maintained a strong liquidity position with $6.21 billion in cash, cash equivalents, and marketable securities.

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