- Record quarterly revenue of $1.40 billion, up 12 percent from a year earlier
- Record full-year revenue of $5.01 billion, up 7 percent from fiscal 2015
- Growth across all market platforms - Gaming, Professional Visualization, Datacenter, Automotive
- Sharply growing customer engagements in deep learning
NVIDIA (
Revenue for fiscal 2016 was a record $5.01 billion, up 7 percent from $4.68 billion a year earlier.
GAAP earnings per diluted share for the quarter were $0.35, inclusive of a restructuring charge of $0.04 per diluted share. Non-GAAP earnings per diluted share were $0.52, up 21 percent from $0.43 a year earlier and up 13 percent from $0.46 in the previous quarter.
GAAP earnings per diluted share for the full year were $1.08, inclusive of restructuring charges of $0.15 per diluted share. Non-GAAP earnings per diluted share were $1.67, up 18 percent from $1.42 a year earlier.
"We had another record quarter, capping a record year," said Jen-Hsun Huang, co-founder and chief executive officer, NVIDIA. "Our strategy is to create specialized accelerated computing platforms for large growth markets that demand the 10x boost in performance we offer. Each platform leverages our focused investment in building the world's most advanced GPU technology.
"NVIDIA is at the center of four exciting growth opportunities -- PC gaming, VR, deep learning, and self-driving cars. We are especially excited about deep learning, a breakthrough in artificial intelligence algorithms that takes advantage of our GPU's ability to process data simultaneously.
"Deep learning is a new computing model that teaches computers to find patterns and make predictions, extracting powerful insights from massive quantities of data. We are working with thousands of companies that are applying the power of deep learning in fields ranging from life sciences and financial services to the Internet of Things," he said.
Capital Return
During the fourth quarter, NVIDIA paid $62 million in cash dividends and received 4.3 million shares in connection with an accelerated share repurchase agreement that it had entered into in the quarter. During fiscal 2016, the company returned to shareholders $800 million in quarterly cash dividends and share repurchases.
For fiscal 2017, NVIDIA intends to return approximately $1.0 billion to shareholders through ongoing quarterly cash dividends and share repurchases.
NVIDIA will pay its next quarterly cash dividend of $0.115 per share on March 23, 2016, to all shareholders of record on March 2, 2016.
Q4 FY2016 Summary
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GAAP
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($ in millions except
earnings per share) Q4 FY16 Q3 FY16 Q4 FY15 Q/Q Y/Y
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Revenue $1,401 $1,305 $1,251 up 7% up 12%
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Gross margin 56.5% 56.3% 55.9% up 20 bps up 60 bps
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Operating expenses $539 $489 $468 up 10% up 15%
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Operating income $252 $245 $231 up 3% up 9%
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Net income $207 $246 $193 down 16% up 7%
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Diluted earnings per share $0.35 $0.44 $0.35 down 20% --
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Non-GAAP
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($ in millions except
earnings per share) Q4 FY16 Q3 FY16 Q4 FY15 Q/Q Y/Y
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Revenue $1,401 $1,305 $1,251 up 7% up 12%
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Gross margin 57.2% 56.5% 56.2% up 70 bps up 100 bps
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Operating expenses $445 $430 $420 up 3% up 6%
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Operating income $356 $308 $283 up 16% up 26%
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Net income $297 $255 $241 up 16% up 23%
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Diluted earnings per $0.52 $0.46 $0.43 up 13% up 21%
share
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