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: NVIDIA’s pioneering work in accelerated computing and its impacts; NVIDIA’s platform enabling developers to create the most impactful technologies of our time; NVIDIA accelerating the world’s largest industries racing to benefit from the transformative power of AI; the benefits, performance and abilities of our products and technologies, including NVIDIA Base Command, Fleet Command, NVIDIA Omniverse, GeForce RTX 3080 Ti and 3070 Ti, NVIDIA Reflex, GeForce NOW, NVIDIA AI LaunchPad, TensorRT 8, NVIDIA A100 GPU VMs, NVIDIA BlueField-2, NVIDIA RTX A2000, and NVIDIA DRIVE; our ability to bring the power of AI to the world’s largest industries with our global network of system partners and new enterprise software and subscriptions; engineers, designers and autonomous machines connecting to Omniverse to create digital twins and industrial metaverses; NVIDIA’s next quarterly cash dividend; NVIDIA’s financial outlook for the third quarter of fiscal 2022; NVIDIA’s expected tax rates for the third quarter of fiscal 2022; and the impact of the first AI-on-5G Innovation Lab 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.
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NVIDIA CORPORATION | ||||||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF INCOME | ||||||||||||||||||
(In millions, except per share data) | ||||||||||||||||||
(Unaudited) | ||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||
August 1, | July 26, | August 1, | July 26, | |||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||
Revenue | $ | 6,507 | $ | 3,866 | $ | 12,168 | $ | 6,946 | ||||||||||
Cost of revenue | 2,292 | 1,591 | 4,324 | 2,667 | ||||||||||||||
Gross profit | 4,215 | 2,275 | 7,844 | 4,279 | ||||||||||||||
Operating expenses | ||||||||||||||||||
Research and development | 1,245 | 997 | 2,398 | 1,732 | ||||||||||||||
Sales, general and administrative | 526 | 627 | 1,046 | 920 | ||||||||||||||
Total operating expenses | 1,771 | 1,624 | 3,444 | 2,652 | ||||||||||||||
Income from operations | 2,444 | 651 | 4,400 | 1,627 | ||||||||||||||
Interest income | 6 | 13 | 13 | 44 | ||||||||||||||
Interest expense | (60 | ) | (54 | ) | (113 | ) | (78 | ) | ||||||||||
Other, net | 4 | (1 | ) | 138 | (2 | ) | ||||||||||||
Other income (expense), net | (50 | ) | (42 | ) | 38 | (36 | ) | |||||||||||
Income before income tax | 2,394 | 609 | 4,438 | 1,591 | ||||||||||||||
Income tax expense (benefit) | 20 | (13 | ) | 153 | 52 | |||||||||||||
Net income | $ | 2,374 | $ | 622 | $ | 4,285 | $ | 1,539 | ||||||||||
Net income per share (A): | ||||||||||||||||||
Basic | $ | 0.95 | $ | 0.25 | $ | 1.72 | $ | 0.63 | ||||||||||
Diluted | $ | 0.94 | $ | 0.25 | $ | 1.69 | $ | 0.62 | ||||||||||
Weighted average shares used in per share computation (A): | ||||||||||||||||||
Basic | 2,493 | 2,464 | 2,489 | 2,460 | ||||||||||||||
Diluted | 2,532 | 2,504 | 2,529 | 2,496 | ||||||||||||||
(A) Reflects a four-for-one stock split on July 19, 2021. |