NVIDIA Announces Financial Results for Second Quarter Fiscal 2025
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NVIDIA CORPORATION | |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | | (In millions) | | (Unaudited) | | | | | | | | | | | | | | | | | | | | | | | |
Three Months Ended | |
Six Months Ended | | | |
July 28, | |
July 30, | |
July 28, | |
July 30, | | | | |
2024 | | | |
2023 | | | |
2024 | | | |
2023 | | | | | | | | | | | | | Cash flows from operating activities: | | | | | | | | | Net income | $ | 16,599 | | | $ | 6,188 | | | $ | 31,480 | | | $ | 8,232 | | | Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | | | | Stock-based compensation expense | | 1,154 | | | | 842 | | | | 2,164 | | | | 1,576 | | | | Depreciation and amortization | | 433 | | | | 365 | | | | 843 | | | | 749 | | | | Gains on investments in non-affiliated entities and publicly-held equity securities, net | | (193 | ) | | | (60 | ) | | | (264 | ) | | | (45 | ) | | | Deferred income taxes | | (1,699 | ) | | | (746 | ) | | | (3,276 | ) | | | (1,881 | ) | | | Other | | (144 | ) | | | (69 | ) | | | (288 | ) | | | (102 | ) | | Changes in operating assets and liabilities, net of acquisitions: | | | | | | | | | | Accounts receivable | | (1,767 | ) | | | (2,986 | ) | | | (4,133 | ) | | | (3,239 | ) | | | Inventories | | (803 | ) | | | 296 | | | | (1,380 | ) | | | 861 | | | | Prepaid expenses and other assets | | 714 | | | | (376 | ) | | | (12 | ) | | | (592 | ) | | | Accounts payable | | 823 | | | | 777 | | | | 801 | | | | 789 | | | | Accrued liabilities and other current liabilities | | (888 | ) | | | 1,986 | | | | 3,314 | | | | 2,675 | | | | Other long-term liabilities | | 260 | | | | 131 | | | | 584 | | | | 236 | | |
Net cash provided by operating activities | |
14,489 | | | |
6,348 | | | |
29,833 | | | |
9,259 | | | Cash flows from investing activities: | | | | | | | | | | Proceeds from maturities of marketable securities | | 4,094 | | | | 2,598 | | | | 8,098 | | | | 5,111 | | | | Proceeds from sales of marketable securities | | 15 | | | | - | | | | 164 | | | | - | | | | Purchases of marketable securities | | (5,744 | ) | | | (2,542 | ) | | | (15,047 | ) | | | (5,343 | ) | | | Purchase related to property and equipment and intangible assets | | (977 | ) | | | (289 | ) | | | (1,346 | ) | | | (537 | ) | | | Acquisitions, net of cash acquired | | (279 | ) | | | - | | | | (317 | ) | | | (83 | ) | | | Purchases of investments in non-affiliated entities | | (344 | ) | | | (235 | ) | | | (534 | ) | | | (456 | ) | | | Proceeds from sales of investments in non-affiliated entities | | 50 | | | | - | | | | 105 | | | | - | | | | Other | | - | | | | 21 | | | | - | | | | 21 | | |
Net cash used in investing activities | |
(3,185 |
) | | |
(447 |
) | | |
(8,877 |
) | | |
(1,287 |
) | | Cash flows from financing activities: | | | | | | | | | | Proceeds related to employee stock plans | | - | | | | 1 | | | | 285 | | | | 247 | | | | Payments related to repurchases of common stock | | (7,158 | ) | | | (3,067 | ) | | | (14,898 | ) | | | (3,067 | ) | | | Repayment of debt | | (1,250 | ) | | | (1,250 | ) | | | (1,250 | ) | | | (1,250 | ) | | | Payments related to tax on restricted stock units | | (1,637 | ) | | | (672 | ) | | | (3,389 | ) | | | (1,179 | ) | | | Dividends paid | | (246 | ) | | | (99 | ) | | | (344 | ) | | | (199 | ) | | | Principal payments on property and equipment and intangible assets | | (29 | ) | | | (11 | ) | | | (69 | ) | | | (31 | ) | |
Net cash used in financing activities | |
(10,320 |
) | | |
(5,098 |
) | | |
(19,665 |
) | | |
(5,479 |
) | | Change in cash, cash equivalents, and restricted cash | | 984 | | | | 803 | | | | 1,291 | | | | 2,493 | | | Cash, cash equivalents, and restricted cash at beginning of period | | 7,587 | | | | 5,079 | | | | 7,280 | | | | 3,389 | | |
Cash, cash equivalents, and restricted cash at end of period |
$ |
8,571 | | |
$ |
5,882 | | |
$ |
8,571 | | |
$ |
5,882 | | | | | | | | | | | | | Reconciliation of cash, cash equivalents, and restricted cash to the Condensed Consolidated Balance Sheet: | | | | | | | | | | Cash and cash equivalents | $ | 8,563 | | | $ | 5,783 | | | $ | 8,563 | | | $ | 5,783 | | | | Restricted cash, included in Prepaid expenses and other current assets | | 8 | | | | 99 | | | | 8 | | | | 99 | | |
Total cash, cash equivalents, and restricted cash |
$ |
8,571 | | |
$ |
5,882 | | |
$ |
8,571 | | |
$ |
5,882 | | | | | | | | | | | | | Supplemental disclosures of cash flow information: | | | | | | | | | Cash paid for income taxes, net | $ | 7,208 | | | $ | 227 | | | $ | 7,449 | | | $ | 328 | | | | | | | | | | | | | | | | | | |
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