- Record quarterly revenue of $2.17 billion, up 55 percent from a year ago
- Record full-year revenue of $6.91 billion, up 38 percent from a year ago
- Record quarterly GAAP gross margin at 60.0 percent, non-GAAP gross margin at 60.2 percent
- GPU computing platform continues to power gains across full product line
NVIDIA (
GAAP earnings per diluted share for the quarter were $0.99, up 183 percent from $0.35 a year ago and up 19 percent from $0.83 in the previous quarter. Non-GAAP earnings per diluted share were $1.13, up 117 percent from $0.52 a year earlier and up 20 percent from $0.94 in the previous quarter.
For fiscal 2017, revenue reached a record $6.91 billion, up 38 percent from $5.01 billion a year earlier. GAAP earnings per diluted share were $2.57, up 138 percent from $1.08 a year earlier. Non-GAAP earnings per diluted share were $3.06, up 83 percent from $1.67 a year earlier.
"We had a great finish to a record year, with continued strong growth across all our businesses," said Jen-Hsun Huang, founder and chief executive officer of NVIDIA. "Our GPU computing platform is enjoying rapid adoption in artificial intelligence, cloud computing, gaming, and autonomous vehicles.
"Deep learning on NVIDIA GPUs, a breakthrough approach to AI, is helping to tackle challenges such as self-driving cars, early cancer detection and weather prediction. We can now see that GPU-based deep learning will revolutionize major industries, from consumer internet and transportation to health care and manufacturing. The era of AI is upon us," he said.
Capital Return
During fiscal 2017, NVIDIA paid $739 million in share repurchases and $261 million in cash dividends. As a result, the company returned an aggregate of $1.00 billion to shareholders in fiscal 2017.
For fiscal 2018, NVIDIA intends to return $1.25 billion to shareholders through ongoing quarterly cash dividends and share repurchases.
NVIDIA will pay its next quarterly cash dividend of $0.14 per share on March 17, 2017, to all shareholders of record on February 24, 2017.
Q4 Fiscal 2017 Summary
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GAAP
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($ in millions except earnings
per share) Q4 FY17 Q3 FY17 Q4 FY16 Q/Q Y/Y
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Revenue $2,173 $2,004 $1,401 up 8% up 55%
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Gross margin 60.0% 59.0% 56.5% up 100 bps up 350 bps
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Operating expenses $570 $544 $539 up 5% up 6%
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Operating income $733 $639 $252 up 15% up 191%
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Net income $655 $542 $207 up 21% up 216%
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Diluted earnings per share $0.99 $0.83 $0.35 up 19% up 183%
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Non-GAAP
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($ in millions except earnings
per share) Q4 FY17 Q3 FY17 Q4 FY16 Q/Q Y/Y
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Revenue $2,173 $2,004 $1,401 up 8% up 55%
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Gross margin 60.2% 59.2% 57.2% up 100 bps up 300 bps
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Operating expenses $498 $478 $445 up 4% up 12%
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Operating income $809 $708 $356 up 14% up 127%
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Net income $704 $570 $297 up 24% up 137%
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Diluted earnings per share $1.13 $0.94 $0.52 up 20% up 117%
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Fiscal 2017 Summary
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GAAP
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($ in millions except earnings per share) FY17 FY16 Y/Y
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Revenue $6,910 $5,010 up 38%
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Gross margin 58.8% 56.1% up 270 bps
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Operating expenses $2,129 $2,064 up 3%
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Operating income $1,934 $747 up 159%
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Net income $1,666 $614 up 171%
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Diluted earnings per share $2.57 $1.08 up 138%
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Non-GAAP
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($ in millions except earnings per share) FY17 FY16 Y/Y
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Revenue $6,910 $5,010 up 38%
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Gross margin 59.2% 56.8% up 240 bps
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Operating expenses $1,867 $1,721 up 8%
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Operating income $2,221 $1,125 up 97%
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Net income $1,851 $929 up 99%
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Diluted earnings per share $3.06 $1.67 up 83%
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