-
- Document quarterly income of $30.0 billion, up 15% from Q1 and up 122% from 12 months in the past
-
- Document quarterly Information Middle income of $26.3 billion, up 16% from Q1 and up 154% from 12 months in the past
NVIDIA (NASDAQ: NVDA), in the present day, reported income for the second quarter, which ended July 28, 2024, of $30.0 billion, up 15% from the earlier quarter and up 122% from 12 months in the past.
For the quarter, GAAP earnings per diluted share was $0.67, up 12% from the earlier quarter and 168% from 12 months in the past. Non-GAAP earnings per diluted share was $0.68, up 11% from the earlier quarter and 152% from 12 months in the past.
“Hopper demand stays robust, and the anticipation for Blackwell is unimaginable,” mentioned Jensen Huang, founder and CEO of NVIDIA. “NVIDIA achieved report revenues as international information facilities are in full throttle to modernize your entire computing stack with accelerated computing and generative AI.”
“Blackwell samples are transported to our companions and prospects. Spectrum-X Ethernet for AI and NVIDIA AI Enterprise software programs are two new product classes attaining important scales, demonstrating that NVIDIA is a full-stack and information center-scale platform. Throughout your entire stack and ecosystem, we’re serving frontier mannequin makers cl, clients, web companies, and now enterprises. Generative AI will revolutionize each {industry}.”
Through the first half of fiscal 2025, NVIDIA returned $15.4 billion to shareholders through the type of shares repurchased and money dividends. As of the end of the second quarter, the corporation had $7.5 billion remaining below its share repurchase authorization. On August 26, 2024, the Board of Administrators accepted a further $50.0 billion in share repurchase authorization without expiration.
NVIDIA pays its subsequent quarterly money dividend of $0.01 per share on October 3, 2024, to all shareholders of a September 12, 2024 report.
On June 7, 2024, NVIDIA accomplished a ten-for-one-ahead inventory cut-up. All share and per-share quantities offered have been retroactively adjusted to mirror the inventory cut-up.
Q2 Fiscal 2025 Abstract
| GAAP |
| ($ in thousands and thousands, besides earnings
per share) |
Q2 FY25 |
Q1 FY25 |
Q2 FY24 |
Q/Q |
Y/Y |
| Income |
$30,040 |
$26,044 |
$13,507 |
Up 15% |
Up 122% |
| Gross margin |
|
75.1% |
|
78.4% |
|
70.1% |
Down 3.3 pts |
Up 5.0 pts |
| Working bills |
$3,932 |
$3,497 |
$2,662 |
Up 12% |
Up 48% |
| Working earnings |
$18,642 |
$16,909 |
$6,800 |
Up 10% |
Up 174% |
| Internet earnings |
$16,599 |
$14,881 |
$6,188 |
Up 12% |
Up 168% |
| Diluted earnings per share |
$0.67 |
$0.60 |
$0.25 |
Up 12% |
Up 168% |
| Non-GAAP |
| ($ in thousands and thousands, besides earnings
per share) |
Q2 FY25 |
Q1 FY25 |
Q2 FY24 |
Q/Q |
Y/Y |
| Income |
$30,040 |
$26,044 |
$13,507 |
Up 15% |
Up 122% |
| Gross margin |
|
75.7% |
|
78.9% |
|
71.2% |
Down 3.2 pts |
Up 4.5 pts |
| Working bills |
$2,792 |
$2,501 |
$1,838 |
Up 12% |
Up 52% |
| Working earnings |
$19,937 |
$18,059 |
$7,776 |
Up 10% |
Up 156% |
| Internet earnings |
$16,952 |
$15,238 |
$6,740 |
Up 11% |
Up 152% |
| Diluted earnings per share |
$0.68 |
$0.61 |
$0.27 |
Up 11% |
Up 152% |
Outlook
NVIDIA’s outlook for the third quarter of fiscal 2025 is as follows:
-
- Income is anticipated to be $32.5 billion, plus or minus 2%.
-
- GAAP and non-GAAP gross margins are anticipated to be 74.4% and 75.0%, respectively, plus or minus 50 foundation factors. For 12 months, gross margins are anticipated to be within the mid-70% vary.
-
- GAAP and non-GAAP working bills are anticipated to be roughly $4.3 billion and $3.0 billion, respectively. Full-year working bills are anticipated to develop within the mid-to-upper-40 % range.
-
- GAAP and non-GAAP different earnings and expenses are anticipated to be roughly $350 million, excluding good points and losses from non-affiliated investments and publicly-held fairness securities.
-
- GAAP and non-GAAP tax charges are anticipated to be 17%, plus or minus 1%, excluding any discrete gadgets.
Highlights
NVIDIA has achieved progress since its earlier earnings announcement in these areas:
Information Middle
-
- Second-quarter income was $26.3 billion, up 16% from the earlier quarter and up 154% from the previous 12 months.
-
- Introduced that the mix of NVIDIA H200 Tensor Core and NVIDIA Blackwell structure B200 Tensor Core processors swept the newest industry-standard MLPerf benchmark outcomes for inference.
-
- They have revealed that H200 GPU-powered programs are now on CoreWeave, the primary cloud service supplier, to announce expected availability.
-
- Unveiled an array of Blackwell programs t, including Grace™ CPUs, networking, and infrastructure from prime producers akin to GIGABYTE, QCT, and Wiwynn.
-
- They reported broad adoption of the NVIDIA Spectrum-X™ Ethernet networking platform by cloud service suppliers, GPU cloud suppliers, enterprises, and companions incorporating it into their choices.
-
- Unveiled an inference service with Hugging Face powered by NIM microservices on NVIDIA DGX™ Cloud to allow builders to deploy widespread giant language fashions.
-
- We launched an NVIDIA AI Foundry service and NIM inference microservices to speed up generative AI for the world’s enterprises with the Llama 3.1 assortment of fashions.
-
- It introduced Japan’s superior sovereign AI capabilities with its ABCI 3.0 supercomputer, integrating H200 GPUs and NVIDIA Quantum-2 InfiniBand networking.
Gaming and AI PC
-
- Second-quarter Gaming income was $2.9 billion, up 9% from the earlier quarter and 16% from the previous 12 months.
-
- Introduced NVIDIA ACE, a collection of generative AI applied sciences that deliver digital people to life, now consists of NVIDIA Nemotron-4 4B, a small language mannequin for on-device inference, and is accessible in early entry for RTX AI PCs.
-
- We launched Venture G-Help, an expertise preview that demonstrates AI brokers’ ability to help avid gamers and creators in real-time.
-
- They introduced new NVIDIA GeForce RTX and DLSS titles, including Indiana Jones and the Nice Circle, Dune: Awakening, and Dragon Age: The Veilguard, bringing the overall variety of RTX video games and apps to over 600.
-
- Surpassed 2,000 video games on GeForce NOW, expanded the service into Japan, and introduced launches of Black Delusion: Wukong and Star Wars Outlaws.
Skilled Visualization
-
- Second-quarter income was $454 million, up 6% from the earlier quarter and up 20% from 12 months in the past.
-
- Introduced leading Taiwanese electronics makers are creating extra autonomous factories with a brand new reference workflow that mixes NVIDIA Metropolis imaginative and prescient AI, NVIDIA Omniverse™ simulation, and NVIDIA Isaac™ AI robotic growth.
Automotive and Robotics
-
- Second-quarter Automotive income was $346 million, up 5% from the earlier quarter and up 37% from 12 months in the past.
-
- Gained the Autonomous Grand Problem on the Laptop Imaginative and prescient and Sample Recognition convention within the class of Finish-to-Finish Driving at Scale for advances in constructing bodily, generative AI functions for autonomous car growth.
CFO Commentary
NVIDIA’s government vice chairman and chief financial officer, Colette Kress, commented on the quarter at https://investor.nvidia.com.
Convention Name and Webcast Data
NVIDIA will conduct a convention name with analysts and buyers to debate its second quarter fiscal 2025 monetary outcomes and present monetary prospects in the present day at 2 p.m. Pacific time (5 p.m. Japanese time). A dwell webcast (listen-only mode) of the convention name will probably be accessible at NVIDIA’s investor relations website, https://investor.nvidia.com. The webcast will probably be recorded and out there for replay till NVIDIA’s convention name to debate its monetary outcomes for its third quarter of fiscal 2025.
Non-GAAP Measures
The corporation uses non-GAAP measures of certain parts of monetary efficiency to complement NVIDIA’s condensed consolidated monetary statements offered by GAAP. These non-GAAP measures embrace non-GAAP gross revenue, non-GAAP gross margin, non-GAAP working bills, non-GAAP earnings from operations, non-GAAP different earnings (expense), web, non-GAAP web earnings, non-GAAP web earnings, or earnings, per diluted share, and free money move. For NVIDIA’s buyers to be able to examine its present outcomes with those of earlier durations, the corporation has proven a reconciliation of GAAP to non-GAAP monetary measures. These reconciliations alter the associated GAAP monetary measures to exclude stock-based compensation expense, acquisition-related and different prices, different, good points from non-affiliated investments and publicly-held fairness securities, web, curiosity expense associated with amortization of debt low cost, and the related tax influence of this stuff the place relevant. Free money move is calculated as GAAP web money supplied by working actions, much less each purchase associated with the property, tools, and intangible belongings and principal funds on the property, tools, and intangible belongings. NVIDIA believes the presentation of its non-GAAP monetary measures enhances the person’s general understanding of the corporation’s historic monetary efficiency. The presentation of the corporate’s non-GAAP monetary measures isn’t meant to be thought of in isolation or as an alternative to the corporate’s monetary outcomes ready by GAAP, and the corporate’s non-GAAP measures could also be different from non-GAAP measures utilized by other corporations.
| NVIDIA CORPORATION |
| CONDENSED CONSOLIDATED STATEMENTS OF INCOME |
| (In thousands and thousands, besides per share information) |
| (Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Six Months Ended |
|
|
|
|
July 28, |
|
July 30, |
|
July 28, |
|
July 30, |
|
|
|
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
|
|
|
| Income |
$ |
30,040 |
|
|
$ |
13,507 |
|
|
$ |
56,084 |
|
|
$ |
20,699 |
|
| Value of income |
|
7,466 |
|
|
|
4,045 |
|
|
|
13,105 |
|
|
|
6,589 |
|
| Gross revenue |
|
22,574 |
|
|
|
9,462 |
|
|
|
42,979 |
|
|
|
14,110 |
|
|
|
|
|
|
|
|
|
|
|
|
| Working bills |
|
|
|
|
|
|
|
|
Analysis and growth |
|
3,090 |
|
|
|
2,040 |
|
|
|
5,810 |
|
|
|
3,916 |
|
|
Gross sales, common and administrative |
|
842 |
|
|
|
622 |
|
|
|
1,618 |
|
|
|
1,253 |
|
|
|
While working bills |
|
|
3,932 |
|
|
|
2,662 |
|
|
|
7,428 |
|
|
|
5,169 |
|
|
|
|
|
|
|
|
|
|
|
|
| Working Revenue |
|
18,642 |
|
|
|
6,800 |
|
|
|
35,551 |
|
|
|
8,941 |
|
|
Curiosity earnings |
|
444 |
|
|
|
187 |
|
|
|
803 |
|
|
|
338 |
|
|
Curiosity expense |
|
(61 |
) |
|
|
(65 |
) |
|
|
(125 |
) |
|
|
(131 |
) |
|
Different, web |
|
189 |
|
|
|
59 |
|
|
|
264 |
|
|
|
42 |
|
|
|
Different earnings (expense), web |
|
|
572 |
|
|
|
181 |
|
|
|
942 |
|
|
|
249 |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue earlier than earnings tax |
|
19,214 |
|
|
|
6,981 |
|
|
|
36,493 |
|
|
|
9,190 |
|
| Revenue tax expense |
|
2,615 |
|
|
|
793 |
|
|
|
5,013 |
|
|
|
958 |
|
| Internet earnings |
$ |
16,599 |
|
|
$ |
6,188 |
|
|
$ |
31,480 |
|
|
$ |
8,232 |
|
|
|
|
|
|
|
|
|
|
|
|
| Internet earnings per share: |
|
|
|
|
|
|
|
|
Primary |
$ |
0.68 |
|
|
$ |
0.25 |
|
|
$ |
1.28 |
|
|
$ |
0.33 |
|
|
Diluted |
$ |
0.67 |
|
|
$ |
0.25 |
|
|
$ |
1.27 |
|
|
$ |
0.33 |
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted common shares utilized in per share computation: |
|
|
|
|
|
|
|
|
Primary |
|
24,578 |
|
|
|
24,729 |
|
|
|
24,599 |
|
|
|
24,716 |
|
|
Diluted |
|
24,848 |
|
|
|
24,994 |
|
|
|
24,869 |
|
|
|
24,948 |
|
|
|
|
|
|
|
|
|
|
|
|
| NVIDIA CORPORATION |
|
| CONDENSED CONSOLIDATED BALANCE SHEETS |
|
| (In thousands and thousands) |
|
| (Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
July 28, |
|
January 28, |
|
|
|
|
|
2024 |
|
2024 |
|
| ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Present belongings: |
|
|
|
|
|
|
Money, money equivalents, and marketable securities |
|
$ |
34,800 |
|
$ |
25,984 |
|
|
Accounts receivable, web |
|
|
14,132 |
|
|
9,999 |
|
|
Inventories |
|
|
6,675 |
|
|
5,282 |
|
|
Pay-as-you-go bills and different present belongings |
|
. |
4,026 |
|
|
3,080 |
|
|
|
Whole present belongings |
|
|
59,633 |
|
|
44,345 |
|
|
|
|
|
|
|
|
|
| Property and tools, web |
|
|
4,885 |
|
|
3,914 |
|
| Working lease belongings |
|
|
1,556 |
|
|
1,346 |
|
| Goodwill |
|
|
4,622 |
|
|
4,430 |
|
| Intangible belongings, web |
|
|
952 |
|
|
1,112 |
|
| Deferred earnings tax belongings |
|
|
9,578 |
|
|
6,081 |
|
| Different belongings |
|
|
4,001 |
|
|
4,500 |
|
|
|
Whole belongings |
|
$ |
85,227 |
|
$ |
65,728 |
|
|
|
|
|
|
|
|
|
| LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Present liabilities: |
|
|
|
|
|
|
Accounts payable |
|
$ |
3,680 |
|
$ |
2,699 |
|
|
Accrued and different present liabilities |
|
|
10,289 |
|
|
6,682 |
|
|
Quick-term debt |
|
|
– |
|
|
1,250 |
|
|
|
Whole present liabilities |
|
|
13,969 |
|
|
10,631 |
|
|
|
|
|
|
|
|
|
| Lengthy-term debt |
|
|
8,461 |
|
|
8,459 |
|
| Lengthy-term working lease liabilities |
|
|
1,304 |
|
|
1,119 |
|
| Different long-term liabilities |
|
|
3,336 |
|
|
2,541 |
|
|
|
Whole liabilities |
|
|
27,070 |
|
|
22,750 |
|
|
|
|
|
|
|
|
|
| Shareholders’ fairness |
|
|
58,157 |
|
|
42,978 |
|
|
|
Whole liabilities and shareholders’ fairness |
|
$ |
85,227 |
|
$ |
65,728 |
|
|
|
|
|
|
|
|
|
| NVIDIA CORPORATION |
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
| (In thousands and thousands) |
| (Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Six Months Ended |
|
|
July 28, |
|
July 30, |
|
July 28, |
|
July 30, |
|
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
|
| Money flows from working actions: |
|
|
|
|
|
|
|
| Internet earnings |
$ |
16,599 |
|
|
$ |
6,188 |
|
|
$ |
31,480 |
|
|
$ |
8,232 |
|
| Changes to reconcile web earnings to web money supplied by working actions: |
|
|
|
|
|
|
|
|
Inventory-based compensation expense |
|
1,154 |
|
|
|
842 |
|
|
|
2,164 |
|
|
|
1,576 |
|
|
Depreciation and amortization |
|
433 |
|
|
|
365 |
|
|
|
843 |
|
|
|
749 |
|
|
Positive factors on investments in non-affiliated entities and publicly-held fairness securities, web |
|
(193 |
) |
|
|
(60 |
) |
|
|
(264 |
) |
|
|
(45 |
) |
|
Deferred earnings taxes |
|
(1,699 |
) |
|
|
(746 |
) |
|
|
(3,276 |
) |
|
|
(1,881 |
) |
|
Different |
|
(144 |
) |
|
|
(69 |
) |
|
|
(288 |
) |
|
|
(102 |
) |
| Modifications in working belongings and liabilities, web of acquisitions: |
|
|
|
|
|
|
|
|
Accounts receivable |
|
(1,767 |
) |
|
|
(2,986 |
) |
|
|
(4,133 |
) |
|
|
(3,239 |
) |
|
Inventories |
|
(803 |
) |
|
|
296 |
|
|
|
(1,380 |
) |
|
|
861 |
|
|
Pay-as-you-go bills and different belongings |
|
714 |
|
|
|
(376 |
) |
|
|
(12 |
) |
|
|
(592 |
) |
|
Accounts payable |
|
823 |
|
|
|
777 |
|
|
|
801 |
|
|
|
789 |
|
|
Accrued liabilities and different present liabilities |
|
(888 |
) |
|
|
1,986 |
|
|
|
3,314 |
|
|
|
2,675 |
|
|
Different long-term liabilities |
|
260 |
|
|
|
131 |
|
|
|
584 |
|
|
|
236 |
|
| Internet money supplied by working actions |
|
14,489 |
|
|
|
6,348 |
|
|
|
29,833 |
|
|
|
9,259 |
|
| Money flows from investing actions: |
|
|
|
|
|
|
|
|
Proceeds from maturities of marketable securities |
|
4,094 |
|
|
|
2,598 |
|
|
|
8,098 |
|
|
|
5,111 |
|
|
Proceeds from gross sales of marketable securities |
|
15 |
|
|
|
– |
|
|
|
164 |
|
|
|
– |
|
|
Purchases of marketable securities |
|
(5,744 |
) |
|
|
(2,542 |
) |
|
|
(15,047 |
) |
|
|
(5,343 |
) |
|
Buy associated to property and tools and intangible belongings |
|
(977 |
) |
|
|
(289 |
) |
|
|
(1,346 |
) |
|
|
(537 |
) |
|
Acquisitions, web of money acquired |
|
(279 |
) |
|
|
– |
|
|
|
(317 |
) |
|
|
(83 |
) |
|
Purchases of investments in non-affiliated entities |
|
(344 |
) |
|
|
(235 |
) |
|
|
(534 |
) |
|
|
(456 |
) |
|
Proceeds from gross sales of investments in non-affiliated entities |
|
50 |
|
|
|
– |
|
|
|
105 |
|
|
|
– |
|
|
Different |
|
– |
|
|
|
21 |
|
|
|
– |
|
|
|
21 |
|
| Internet money utilized in investing actions |
|
(3,185 |
) |
|
|
(447 |
) |
|
|
(8,877 |
) |
|
|
(1,287 |
) |
| Money flows from financing actions: |
|
|
|
|
|
|
|
|
Proceeds associated with worker inventory plans |
|
– |
|
|
|
1 |
|
|
|
285 |
|
|
|
247 |
|
|
Funds associated to repurchases of widespread inventory |
|
(7,158 |
) |
|
|
(3,067 |
) |
|
|
(14,898 |
) |
|
|
(3,067 |
) |
|
Reimbursement of debt |
|
(1,250 |
) |
|
|
(1,250 |
) |
|
|
(1,250 |
) |
|
|
(1,250 |
) |
|
Funds associated to tax on restricted inventory items |
|
(1,637 |
) |
|
|
(672 |
) |
|
|
(3,389 |
) |
|
|
(1,179 |
) |
|
Dividends paid |
|
(246 |
) |
|
|
(99 |
) |
|
|
(344 |
) |
|
|
(199 |
) |
|
Principal funds on property and tools and intangible belongings |
|
(29 |
) |
|
|
(11 |
) |
|
|
(69 |
) |
|
|
(31 |
) |
| Internet money utilized in financing actions |
|
(10,320 |
) |
|
|
(5,098 |
) |
|
|
(19,665 |
) |
|
|
(5,479 |
) |
| Change in money, money equivalents, and restricted money |
|
984 |
|
|
|
8.03 |
|
|
|
1,291 |
|
|
|
2,493 |
|
| Money, money equivalents, and restricted cash at starting of the interval |
|
7,587 |
|
|
|
5,079 |
|
|
|
7,280 |
|
|
|
3,389 |
|
| Money, money equivalents, and restricted cash at the finish of the interval |
$ |
8,571 |
|
|
$ |
5,882 |
|
|
$ |
8,571 |
|
|
$ |
5,882 |
|
|
|
|
|
|
|
|
|
|
| Reconciliation of money, money equivalents, and restricted cash to the Condensed Consolidated Steadiness Sheet: |
|
|
|
|
|
|
|
|
Money and money equivalents |
$ |
8,563 |
|
|
$ |
5,783 |
|
|
$ |
8,563 |
|
|
$ |
5,783 |
|
|
Restricted money, included in Pay as you go bills and different present belongings |
|
8 |
|
|
|
99 |
|
|
|
8 |
|
|
|
99 |
|
| Whole money, money equivalents, and restricted money |
$ |
8,571 |
|
|
$ |
5,882 |
|
|
$ |
8,571 |
|
|
$ |
5,882 |
|
|
|
|
|
|
|
|
|
|
| Supplemental disclosures of money move info: |
|
|
|
|
|
|
|
| Money paid for earnings taxes, web |
$ |
7,208 |
|
|
$ |
227 |
|
|
$ |
7,449 |
|
|
$ |
328 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| NVIDIA CORPORATION |
|
| RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES |
|
| (In thousands and thousands, besides per share information) |
|
| (Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Six Months Ended |
|
|
|
|
July 28, |
|
April 28, |
|
July 30, |
|
July 28, |
|
July 30, |
|
|
|
|
|
2024 |
|
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| GAAP gross revenue |
|
$ |
22,574 |
|
|
$ |
20,406 |
|
|
$ |
9,462 |
|
|
$ |
42,979 |
|
|
$ |
14,110 |
|
|
| GAAP gross margin |
|
75.1 |
% |
|
|
78.4 |
% |
|
|
70.1 |
% |
|
|
76.6 |
% |
|
|
68.2 |
% |
|
|
Acquisition-related and different prices (A) |
|
118 |
|
|
|
119 |
|
|
|
119 |
|
|
|
238 |
|
|
|
239 |
|
|
|
Inventory-based compensation expense (B) |
|
40 |
|
|
|
36 |
|
|
|
31 |
|
|
|
75 |
|
|
|
58 |
|
|
|
Different (C) |
|
|
(3 |
) |
|
|
(1 |
) |
|
|
2 |
|
|
|
(4 |
) |
|
|
10 |
|
|
| Non-GAAP gross revenue |
$ |
22,729 |
|
|
$ |
20,560 |
|
|
$ |
9,614 |
|
|
$ |
43,288 |
|
|
$ |
14,417 |
|
|
| Non-GAAP gross margin |
|
75.7 |
% |
|
|
78.9 |
% |
|
|
71.2 |
% |
|
|
77.2 |
% |
|
|
69.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| GAAP working bills |
$ |
3,932 |
|
|
$ |
3,497 |
|
|
$ |
2,662 |
|
|
$ |
7,428 |
|
|
$ |
5,169 |
|
|
|
Inventory-based compensation expense (B) |
|
(1,114 |
) |
|
|
(975 |
) |
|
|
(811 |
) |
|
|
(2,089 |
) |
|
|
(1,518 |
) |
|
|
Acquisition-related and different prices (A) |
|
(26 |
) |
|
|
(21 |
) |
|
|
(18 |
) |
|
|
(48 |
) |
|
|
(72 |
) |
|
|
Different (C) |
|
|
– |
|
|
|
– |
|
|
|
5 |
|
|
|
– |
|
|
|
10 |
|
|
| Non-GAAP working bills |
$ |
2,792 |
|
|
$ |
2,501 |
|
|
$ |
1,838 |
|
|
$ |
5,291 |
|
|
$ |
3,589 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| GAAP working earnings |
$ |
18,642 |
|
|
$ |
16,909 |
|
|
$ |
6,800 |
|
|
$ |
35,551 |
|
|
$ |
8,941 |
|
|
|
Whole influence of non-GAAP changes to working earnings |
|
1,295 |
|
|
|
1,150 |
|
|
|
976 |
|
|
|
2,446 |
|
|
|
1,887 |
|
|
| Non-GAAP working earnings |
$ |
19,937 |
|
|
$ |
18,059 |
|
|
$ |
7,776 |
|
|
$ |
37,997 |
|
|
$ |
10,828 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| GAAP different earnings (expense), web |
$ |
572 |
|
|
$ |
370 |
|
|
$ |
181 |
|
|
$ |
942 |
|
|
$ |
249 |
|
|
|
Positive factors from non-affiliated investments and publicly-held fairness securities, web |
|
(193 |
) |
|
|
(69 |
) |
|
|
(62 |
) |
|
|
(264 |
) |
|
|
(46 |
) |
|
|
Curiosity expense associated with the amortization of debt low-cost |
|
1 |
|
|
|
1 |
|
|
|
1 |
|
|
|
2 |
|
|
|
2 |
|
|
| Non-GAAP different earnings (expense), web |
$ |
380 |
|
|
$ |
302 |
|
|
$ |
120 |
|
|
$ |
680 |
|
|
$ |
205 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| GAAP web earnings |
|
$ |
16,599 |
|
|
$ |
14,881 |
|
|
$ |
6,188 |
|
|
$ |
31,480 |
|
|
$ |
8,232 |
|
|
|
Whole pre-tax influence of non-GAAP changes |
|
1,103 |
|
|
|
1,082 |
|
|
|
915 |
|
|
|
2,184 |
|
|
|
1,843 |
|
|
|
Revenue tax influence of non-GAAP changes (D) |
|
(750 |
) |
|
|
(725 |
) |
|
|
(363 |
) |
|
|
(1,475 |
) |
|
|
(622 |
) |
|
| Non-GAAP web earnings |
$ |
16,952 |
|
|
$ |
15,238 |
|
|
$ |
6,740 |
|
|
$ |
32,189 |
|
|
$ |
9,453 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Diluted web earnings per share |
|
|
|
|
|
|
|
|
|
|
|
GAAP |
|
$ |
0.67 |
|
|
$ |
0.60 |
|
|
$ |
0.25 |
|
|
$ |
1.27 |
|
|
$ |
0.33 |
|
|
|
Non-GAAP |
|
$ |
0.68 |
|
|
$ |
0.61 |
|
|
$ |
0.27 |
|
|
$ |
1.29 |
|
|
$ |
0.38 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted common shares utilized in diluted web earnings per share computation |
|
24,848 |
|
|
|
24,890 |
|
|
|
24,994 |
|
|
|
24,869 |
|
|
|
24,948 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| GAAP web money supplied by working actions |
$ |
14,489 |
|
|
$ |
15,345 |
|
|
$ |
6,348 |
|
|
$ |
29,833 |
|
|
$ |
9,259 |
|
|
|
Purchases associated to property and tools and intangible belongings |
|
(977 |
) |
|
|
(369 |
) |
|
|
(289 |
) |
|
|
(1,346 |
) |
|
|
(537 |
) |
|
|
Principal funds on property and tools and intangible belongings |
|
(29 |
) |
|
|
(40 |
) |
|
|
(11 |
) |
|
|
(69 |
) |
|
|
(31 |
) |
|
| Free money move |
|
$ |
13,483 |
|
|
$ |
14,936 |
|
|
$ |
6,048 |
|
|
$ |
28,418 |
|
|
$ |
8,691 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (A) Acquisition-related and different prices are comprised of amortization of intangible belongings, transaction prices, and sure compensation costs and are included within the following line gadgets: |
|
|
|
|
Three Months Ended |
|
Six Months Ended |
|
|
|
|
July 28, |
|
April 28, |
|
July 30, |
|
July 28, |
|
July 30, |
|
|
|
|
|
2024 |
|
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
|
|
Value of income |
|
$ |
118 |
|
|
$ |
119 |
|
|
$ |
119 |
|
|
$ |
238 |
|
|
$ |
239 |
|
|
|
Analysis and growth |
$ |
17 |
|
|
$ |
12 |
|
|
$ |
12 |
|
|
$ |
30 |
|
|
$ |
24 |
|
|
|
Gross sales, common and administrative |
$ |
9 |
|
|
$ |
8 |
|
|
$ |
6 |
|
|
$ |
18 |
|
|
$ |
48 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (B) Inventory-based compensation consists of the next: |
|
|
|
|
|
|
|
Three Months Ended |
|
Six Months Ended |
|
|
|
|
July 28, |
|
April 28, |
|
July 30, |
|
July 28, |
|
July 30, |
|
|
|
|
|
2024 |
|
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
|
|
Value of income |
|
$ |
40 |
|
|
$ |
36 |
|
|
$ |
31 |
|
|
$ |
75 |
|
|
$ |
58 |
|
|
|
Analysis and growth |
$ |
832 |
|
|
$ |
727 |
|
|
$ |
600 |
|
|
$ |
1,559 |
|
|
$ |
1,124 |
|
|
|
Gross sales, common and administrative |
$ |
282 |
|
|
$ |
248 |
|
|
$ |
211 |
|
|
$ |
530 |
|
|
$ |
394 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (C) Differentiating between IP-related prices and belongings held on market-associated changes. |
|
| (D) Revenue tax influence of non-GAAP changes, together with the popularity of extra tax advantages or deficiencies associated with stock-based compensation below GAAP accounting customary (ASU 2016-09). |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| NVIDIA CORPORATION |
|
| RECONCILIATION OF GAAP TO NON-GAAP OUTLOOK |
|
|
|
|
|
|
|
|
|
|
|
Q3 FY2025
Outlook |
|
|
|
|
($ in thousands and thousands) |
|
|
|
|
|
|
| GAAP gross margin |
|
74.4 |
% |
|
|
Impression of stock-based compensation expense, acquisition-related prices, and different prices |
|
|
0.6 |
% |
|
| Non-GAAP gross margin |
|
75.0 |
% |
|
|
|
|
|
|
| GAAP working bills |
$ |
4,250 |
|
|
|
Inventory-based compensation expense, acquisition-related prices, and different prices |
|
|
(1,250 |
) |
|
| Non-GAAP working bills |
$ |
3,000 |
|
|
|
|
|
|
|