Nvidia Corp (NVDA) 10K Annual Reports & 10Q SEC Filings

NVIDIA (NASDAQ: NVDA) today reported revenue for the fourth quarter ended January 29, 2023, of $6.05 billion, down 21% from a year ago and up 2% from the previous quarter.

GAAP earnings per diluted share for the quarter were $0.57, down 52% from a year ago and up 111% from the previous quarter. Non-GAAP earnings per diluted share were $0.88, down 33% from a year ago and up 52% from the previous quarter.

For fiscal 2023, revenue was $26.97 billion, flat from a year ago. GAAP earnings per diluted share were $1.74, down 55% from a year ago. Non-GAAP earnings per diluted share were $3.34, down 25% from a year ago.

"AI is at an inflection point, setting up for broad adoption reaching into every industry,” said Jensen Huang, founder and CEO of NVIDIA. “From startups to major enterprises, we are seeing accelerated interest in the versatility and capabilities of generative AI.

“We are set to help customers take advantage of breakthroughs in generative AI and large language models. Our new AI supercomputer, with H100 and its Transformer Engine and Quantum-2 networking fabric, is in full production.

“Gaming is recovering from the post-pandemic downturn, with gamers enthusiastically embracing the new Ada architecture GPUs with AI neural rendering,” he said.

NVIDIA AI Cloud Service Offerings

NVIDIA is partnering with leading cloud service providers to offer AI-as-a-service that provides enterprises access to NVIDIA’s world-leading AI platform.

Customers will be able to engage each layer of NVIDIA AI – the AI supercomputer, acceleration libraries software or pretrained generative AI models – as a cloud service.

Using their browser, they will be able to engage an NVIDIA DGX™ AI supercomputer through the NVIDIA DGX Cloud, which is already offered on Oracle Cloud Infrastructure, with Microsoft Azure, Google Cloud Platform and others expected soon. At the AI platform software layer, they will be able to access NVIDIA AI Enterprise for training and deploying large language models or other AI workloads. And at the AI-model-as-a-service layer, NVIDIA will offer its NeMo™ and BioNeMo™ customizable AI models to enterprise customers who want to build proprietary generative AI models and services for their businesses.

Further details will be shared at the company’s GTC developer conference, taking place virtually March 20-23.

Return to Shareholders

During the fourth quarter of fiscal 2023, NVIDIA returned to shareholders $1.15 billion in share repurchases and cash dividends, bringing the return in the fiscal year to $10.44 billion.

NVIDIA will pay its next quarterly cash dividend of $0.04 per share on March 29, 2023, to all shareholders of record on March 8, 2023.

The following information was filed by Nvidia Corp (NVDA) on Wednesday, February 22, 2023 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

ChatGPT says NVIDIA Focusing on Growth, Returns to Shareholders, and Sustainability.

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Inside Nvidia Corp's 10-K Annual Report:

Financial - Earnings Highlight
The overall net effect on our gross margin from inventory provisions and sales of items previously written down was an unfavorable impact of 7.5% in fiscal year 2023 and 0.9% in fiscal year 2022.

Financial - Expense Highlight
The fiscal year 2023 effective tax rate includes the mandatory capitalization and amortization of research and development expenses beginning in fiscal year 2023, which resulted in a greater FDII deduction and significantly increased current taxes, with a corresponding deferred tax benefit at the relevant statutory tax rate.
Financial - Expense Highlight
Cost of revenue consists primarily of the cost of semiconductors, including wafer fabrication, assembly, testing and packaging, board and device costs, manufacturing support costs, including labor and overhead associated with such purchases, final test yield fallout, inventory and warranty provisions, memory and component costs, tariffs, and shipping costs.
Revenue - Product Highlight
Data Center revenue was up 41% from a year ago led by strong growth from hyperscale customers and also reflects purchases made by several CSP partners to support multi-year cloud service agreements for our new NVIDIA AI cloud service offerings and our research and development activities.
Financial - Earnings Highlight
Cash provided by operating activities decreased in fiscal year 2023 compared to fiscal year 2022, primarily due to a decrease in net income adjusted for certain non-cash items, such as the Arm acquisition termination cost of $1.35 billion, and higher tax payments, partially offset by changes in working capital.
Financial - Income
The increase in interest income...Read more
Revenue - Product
Professional Visualization revenue was down...Read more
Revenue - Product
Revenue Revenue by Reportable Segments...Read more
Revenue - Product
We determine revenue recognition through...Read more
Financial - Earnings
Compute & Networking - The...Read more
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Our cash dividend program and...Read more
Revenue - Product
During fiscal year 2023, end...Read more
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Cash used in financing activities...Read more
Revenue - Product
Support and extended warranty revenue...Read more
Financial - Earnings
Graphics - The gross margin...Read more
Financial - Earnings
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Other - Other
Our effective tax rate for...Read more
Financial - Debt
Outstanding Indebtedness and Commercial Paper...Read more
Financial - Expense
Operating Expenses The increase in...Read more
Revenue - Product
Gaming revenue was down 27%...Read more
Revenue - Product
Automotive revenue was up 60%...Read more
Revenue - Product
Revenue is recognized net of...Read more
Revenue - Product
The decline in revenue outside...Read more
Revenue - Product
Our revenue to partners that...Read more
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Market Platform Highlights Data Center...Read more
Revenue - Product
Gaming revenue for fiscal year...Read more
Revenue - Product
Professional Visualization revenue for fiscal...Read more
Revenue - Geography
We recognize federal, state and...Read more
Financial - Expense
The increase in expense reflects...Read more
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As of January 29, 2023,...Read more
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Our customer programs involve rebates,...Read more
Revenue - Geography
Except for approximately $1.38 billion...Read more
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We have unrecognized tax benefits...Read more
Other - Other
NVIDIA has partnered with leading...Read more
Financial - Expense
We may incur significant costs...Read more
Revenue - Product
OEM and Other revenue was...Read more
Financial - Income
Other Income (Expense), Net Interest...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Nvidia Corp provided additional information to their SEC Filing as exhibits

Exhibit 4.6: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 10.2: Material Contract

Exhibit 10.14: Material Contract

Exhibit 21.1: List Of Registrants Subsidiaries

Exhibit 23.1: Consent Of Independent Registered Public Accounting Firm

Exhibit 31.1: 302 Certification Of Ceo

Exhibit 31.2: 302 Certification Of Cfo

Exhibit 32.1: 906 Certification Of Ceo

Exhibit 32.2: 906 Certification Of Cfo

Ticker: NVDA
CIK: 1045810
Form Type: 10-K Annual Report
Accession Number: 0001045810-23-000017
Submitted to the SEC: Fri Feb 24 2023 5:23:43 PM EST
Accepted by the SEC: Fri Feb 24 2023
Period: Sunday, January 29, 2023
Industry: Semiconductors And Related Devices