FOR IMMEDIATE RELEASE:
NVIDIA Announces Financial Results for First Quarter Fiscal 2020

SANTA CLARA, Calif.-May 16, 2019-NVIDIA (NASDAQ: NVDA) today reported revenue for the first quarter ended April 28, 2019, of $2.22 billion compared with $3.21 billion a year earlier and $2.21 billion in the previous quarter.
GAAP earnings per diluted share for the quarter were $0.64, compared with $1.98 a year ago and $0.92 in the previous quarter. Non-GAAP earnings per diluted share were $0.88 compared with $2.05 a year earlier and $0.80 in the previous quarter.
“NVIDIA is back on an upward trajectory,” said Jensen Huang, founder and CEO of NVIDIA. “We’ve returned to growth in gaming, with nearly 100 new GeForce Max-Q laptops shipping. And NVIDIA RTX has gained broad industry support, making ray tracing the standard for next-generation gaming.
“Despite the near-term pause in demand from hyperscale customers, the application of AI continues to accelerate. AI adoption is accelerating in the world’s largest industries, moving beyond the cloud to the edge where AI processing has to be instantaneous. We’re excited about our pending acquisition of Mellanox, which will help us drive data center architecture for high performance computing and AI from the cloud to the edge,” he said.
Capital Return
As previously communicated, NVIDIA intends to return $3.00 billion to shareholders by the end of fiscal 2020, including $700 million in share repurchases made during the fourth quarter of fiscal 2019. In the first quarter of fiscal 2020, the company returned $97 million in quarterly cash dividends.
NVIDIA will pay its next quarterly cash dividend of $0.16 per share on June 21, 2019, to all shareholders of record on May 31, 2019.
Q1 Fiscal 2020 Summary
GAAP
($ in millions, except earnings per share)
Q1 FY20
Q4 FY19
Q1 FY19
Q/Q
Y/Y
Revenue
$2,220
$2,205
$3,207
Up 1%
Down 31%
Gross margin
58.4
%
54.7
%
64.5
%
Up 370 bps
Down 610 bps
Operating expenses
$938
$913
$773
Up 3%
Up 21%
Operating income
$358
$294
$1,295
Up 22%
Down 72%
Net income
$394
$567
$1,244
Down 31%
Down 68%
Diluted earnings per share
$0.64
$0.92
$1.98
Down 30%
Down 68%




The following information was filed by Nvidia Corp (NVDA) on Thursday, May 16, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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