- Record revenue of $2.64 billion, up 32 percent from a year ago
- Record GAAP EPS of $1.33, up 60 percent from a year ago
- Growth across all platforms
- Quarterly cash dividend raised 7 percent to $0.15 per share. Company intends to return $1.25 billion to shareholders in fiscal 2019
SANTA CLARA, Calif., Nov. 09, 2017 (GLOBE NEWSWIRE) -- NVIDIA (NASDAQ:NVDA) today reported record revenue for the third quarter ended October 29, 2017, of $2.64 billion, up 32 percent from $2.00 billion a year earlier, and up 18 percent from $2.23 billion in the previous quarter, with growth across all its platforms.
GAAP earnings per diluted share for the quarter were a record $1.33, up 60 percent from $0.83 a year ago and up 45 percent from $0.92 in the previous quarter. Non-GAAP earnings per diluted share were $1.33, also a record, up 41 percent from $0.94 a year earlier and up 32 percent from $1.01 in the previous quarter.
“We had a great quarter across all of our growth drivers,” said Jensen Huang, founder and chief executive officer of NVIDIA. “Industries across the world are accelerating their adoption of AI.
“Our Volta GPU has been embraced by every major internet and cloud service provider and computer maker. Our new TensorRT inference acceleration platform opens us to growth in hyperscale datacenters. GeForce and Nintendo Switch are tapped into the strongest growth dynamics of gaming. And our new DRIVE PX Pegasus for robotaxis has been adopted by companies around the world. We are well positioned for continued growth,” he said.
Capital Return
During the first nine months of fiscal 2018, NVIDIA returned to shareholders $909 million in share repurchases and $250 million in cash dividends. As a result, the company returned an aggregate of $1.16 billion to shareholders in the first nine months of the fiscal year. The company intends to return $1.25 billion to shareholders in fiscal 2018.
For fiscal 2019, NVIDIA intends to return $1.25 billion to shareholders through ongoing quarterly cash dividends and share repurchases. The company announced a 7 percent increase in its quarterly cash dividend to $0.15 per share from $0.14 per share, to be paid with its next quarterly cash dividend on December 15, 2017, to all shareholders of record on November 24, 2017.
Q3 FY2018 Summary
| GAAP | |||||||||||
| ($ in millions except earnings per share) | Q3 FY18 | Q2 FY18 | Q3 FY17 | Q/Q | Y/Y | ||||||
| Revenue | $ | 2,636 | $ | 2,230 | $ | 2,004 | Up 18% | Up 32% | |||
| Gross margin | 59.5 | % | 58.4 | % | 59.0 | % | Up 110 bps | Up 50 bps | |||
| Operating expenses | $ | 674 | $ | 614 | $ | 544 | Up 10% | Up 24% | |||
| Operating income | $ | 895 | $ | 688 | $ | 639 | Up 30% | Up 40% | |||
| Net income | $ | 838 | $ | 583 | $ | 542 | Up 44% | Up 55% | |||
| Diluted earnings per share | $ | 1.33 | $ | 0.92 | $ | 0.83 | Up 45% | Up 60% | |||
| Non-GAAP | |||||||||||
| ($ in millions except earnings per share) | Q3 FY18 | Q2 FY18 | Q3 FY17 | Q/Q | Y/Y | ||||||
| Revenue | $ | 2,636 | $ | 2,230 | $ | 2,004 | Up 18% | Up 32% | |||
| Gross margin | 59.7 | % | 58.6 | % | 59.2 | % | Up 110 bps | Up 50 bps | |||
| Operating expenses | $ | 570 | $ | 533 | $ | 478 | Up 7% | Up 19% | |||
| Operating income | $ | 1,005 | $ | 773 | $ | 708 | Up 30% | Up 42% | |||
| Net income | $ | 833 | $ | 638 | $ | 570 | Up 31% | Up 46% | |||
| Diluted earnings per share | $ | 1.33 | $ | 1.01 | $ | 0.94 | Up 32% | Up 41% | |||
