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    • NVIDIA Announces Financial Results for Second Quarter Fiscal 2025
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    NVIDIA Announces Financial Results for Second Quarter Fiscal 2025

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    NVIDIA reported record Q2 FY2025 results, with revenue of $30.0 billion, up 122% year-over-year. Data Center revenue reached $26.3 billion, a 154% increase from last year. GAAP EPS was $0.67, up 168% year-over-year, while non-GAAP EPS was $0.68, up 152%. The company highlighted strong demand for its Hopper architecture and anticipation for Blackwell. NVIDIA is expanding its product offerings, including Spectrum-X Ethernet and NVIDIA AI Enterprise software. For Q3 FY2025, NVIDIA expects revenue of $32.5 billion ±2% and gross margins in the mid-70% range. The company also announced a new $50 billion share repurchase authorization.

    NVIDIA ha riportato risultati record per il secondo trimestre dell’anno fiscale 2025, con un fatturato di 30,0 miliardi di dollari, in aumento del 122% rispetto all’anno precedente. Il fatturato del Data Center ha raggiunto i 26,3 miliardi di dollari, con un incremento del 154% rispetto all’anno scorso. L’utile per azione (GAAP) è stato di 0,67 dollari, in aumento del 168% su base annua, mentre l’utile per azione non-GAAP è stato di 0,68 dollari, in aumento del 152%. L’azienda ha sottolineato la forte domanda per la sua architettura Hopper e l’aspettativa per Blackwell. NVIDIA sta ampliando la sua offerta di prodotti, inclusi Spectrum-X Ethernet e il software NVIDIA AI Enterprise. Per il terzo trimestre dell’anno fiscale 2025, NVIDIA prevede un fatturato di 32,5 miliardi di dollari ±2% e margini lordo nella fascia del 70%. L’azienda ha anche annunciato una nuova autorizzazione al riacquisto di azioni da 50 miliardi di dollari.

    NVIDIA reportó resultados récord para el segundo trimestre del año fiscal 2025, con ingresos de 30,0 mil millones de dólares, lo que representa un aumento del 122% en comparación con el año anterior. Los ingresos del Centro de Datos alcanzaron los 26,3 mil millones de dólares, un incremento del 154% respecto al año pasado. La utilidad por acción (GAAP) fue de 0,67 dólares, un aumento del 168% interanual, mientras que la utilidad por acción no GAAP fue de 0,68 dólares, un incremento del 152%. La compañía destacó la fuerte demanda por su arquitectura Hopper y la anticipación de Blackwell. NVIDIA está ampliando su oferta de productos, incluidos Spectrum-X Ethernet y el software NVIDIA AI Enterprise. Para el tercer trimestre del año fiscal 2025, NVIDIA espera ingresos de 32,5 mil millones de dólares ±2% y márgenes brutos en el rango del 70%. La empresa también anunció una nueva autorización de recompra de acciones de 50 mil millones de dólares.

    NVIDIA는 2025 회계연도 2분기 기록적인 실적을 보고했으며, 수익은 300억 달러로 전년 대비 122% 증가했습니다. 데이터 센터 수익은 263억 달러에 도달하여 작년 대비 154% 증가했습니다. GAAP 주당 순이익은 0.67달러로 전년 대비 168% 증가했고, 비 GAAP 주당 순이익은 0.68달러로 152% 증가했습니다. 이 회사는 Hopper 아키텍처에 대한 강력한 수요와 Blackwell에 대한 기대를 강조했습니다. NVIDIA는 Spectrum-X 이더넷 및 NVIDIA AI Enterprise 소프트웨어를 포함한 제품 라인을 확장하고 있습니다. 2025 회계연도 3분기에는 약 325억 달러의 수익과 70% 중반 범위의 총 이익률을 예상하고 있습니다. 회사는 또한 500억 달러의 자사주 매입 승인을 발표했습니다.

    NVIDIA a annoncé des résultats record pour le deuxième trimestre de l’année fiscale 2025, avec un chiffre d’affaires de 30,0 milliards de dollars, en hausse de 122 % par rapport à l’année précédente. Les revenus du Centre de données ont atteint 26,3 milliards de dollars, soit une augmentation de 154 % par rapport à l’année dernière. Le BPA GAAP était de 0,67 dollars, en hausse de 168 % par rapport à l’année dernière, tandis que le BPA non-GAAP était de 0,68 dollars, en hausse de 152 %. L’entreprise a souligné la forte demande pour son architecture Hopper et l’anticipation de Blackwell. NVIDIA élargit son offre de produits, y compris Spectrum-X Ethernet et les logiciels NVIDIA AI Enterprise. Pour le troisième trimestre de l’année fiscale 2025, NVIDIA s’attend à un chiffre d’affaires de 32,5 milliards de dollars ±2 % et à des marges brutes dans la fourchette des 70 %. L’entreprise a également annoncé une nouvelle autorisation de rachat d’actions de 50 milliards de dollars.

    NVIDIA hat Rekordergebnisse für das zweite Quartal des Geschäftsjahres 2025 bekannt gegeben, mit einem Umsatz von 30,0 Milliarden Dollar, was einem Anstieg von 122 % im Vergleich zum Vorjahr entspricht. Der Umsatz im Rechenzentrum erreichte 26,3 Milliarden Dollar, was einem Anstieg von 154 % im Vergleich zum Vorjahr entspricht. Der GAAP EPS betrug 0,67 Dollar, was einem Anstieg von 168 % im Jahresvergleich entspricht, während der Non-GAAP EPS 0,68 Dollar betrug, ein Anstieg von 152 %. Das Unternehmen hob die starke Nachfrage nach seiner Hopper-Architektur und die Vorfreude auf Blackwell hervor. NVIDIA erweitert sein Produktangebot, darunter Spectrum-X Ethernet und NVIDIA AI Enterprise Software. Für das dritte Quartal des Geschäftsjahres 2025 erwartet NVIDIA einen Umsatz von 32,5 Milliarden Dollar ±2 % und eine Bruttomarge im mittleren 70 %-Bereich. Das Unternehmen kündigte außerdem eine neue Genehmigung für Aktienrückkäufe in Höhe von 50 Milliarden Dollar an.

    Positive


    • Record quarterly revenue of $30.0 billion, up 122% year-over-year


    • Data Center revenue reached $26.3 billion, up 154% year-over-year


    • GAAP EPS increased 168% to $0.67, non-GAAP EPS up 152% to $0.68


    • Strong demand for Hopper architecture and high anticipation for Blackwell


    • New $50 billion share repurchase authorization approved


    • Q3 FY2025 revenue guidance of $32.5 billion ±2%, indicating continued growth


    Negative


    • GAAP gross margin decreased 3.3 percentage points quarter-over-quarter to 75.1%


    • Operating expenses increased 48% year-over-year to $3.932 billion


    NVIDIA’s Q2 FY2025 results are exceptionally strong, showcasing remarkable growth. Revenue of $30.0 billion represents a 122% year-over-year increase, driven by explosive Data Center growth of 154%. The $26.3 billion Data Center revenue highlights NVIDIA’s dominance in AI computing. With a gross margin of 75.1%, NVIDIA demonstrates strong pricing power and operational efficiency.

    The company’s forward guidance of $32.5 billion for Q3 FY2025 suggests continued momentum. The $50 billion share repurchase authorization signals management’s confidence in future performance. However, investors should note the slight quarter-over-quarter decline in gross margins, which may indicate increasing competition or pricing pressures in certain segments.

    NVIDIA’s results underscore its pivotal role in the AI revolution. The company’s Hopper and upcoming Blackwell architectures are driving unprecedented demand from data centers and cloud providers. The introduction of NVIDIA Spectrum-X Ethernet and AI Enterprise software demonstrates NVIDIA’s evolution into a full-stack AI platform provider.

    The adoption of NVIDIA’s technologies by major players across various industries, from robotics to automotive, indicates the company’s expanding influence beyond its traditional gaming market. However, the gaming segment’s relatively modest 16% year-over-year growth suggests potential market saturation or increased competition in this space. The company’s focus on generative AI and large language models positions it well for future growth, but maintaining such explosive growth rates may become challenging as the market matures.

    NVIDIA’s performance is reshaping the tech industry landscape. The company’s market cap has soared, making it one of the most valuable companies globally. This growth is driving significant changes in major stock indices, potentially affecting passive investment strategies and market dynamics.

    The company’s strong cash flow generation ($13.5 billion in free cash flow this quarter) and robust balance sheet ($34.8 billion in cash and marketable securities) provide ample resources for R&D investments and strategic acquisitions. However, investors should be cautious of the high expectations now priced into the stock. Any slowdown in AI adoption or increased competition could lead to significant volatility. The semiconductor industry’s cyclical nature and potential regulatory scrutiny in AI technologies are additional risk factors to consider.











    • Record quarterly revenue of $30.0 billion, up 15% from Q1 and up 122% from a year ago 
    • Record quarterly Data Center revenue of $26.3 billion, up 16% from Q1 and up 154% from a year ago

    SANTA CLARA, Calif., Aug. 28, 2024 (GLOBE NEWSWIRE) — NVIDIA (NASDAQ: NVDA) today reported revenue for the second quarter ended July 28, 2024, of $30.0 billion, up 15% from the previous quarter and up 122% from a year ago.

    For the quarter, GAAP earnings per diluted share was $0.67, up 12% from the previous quarter and up 168% from a year ago. Non-GAAP earnings per diluted share was $0.68, up 11% from the previous quarter and up 152% from a year ago.

    “Hopper demand remains strong, and the anticipation for Blackwell is incredible,” said Jensen Huang, founder and CEO of NVIDIA. “NVIDIA achieved record revenues as global data centers are in full throttle to modernize the entire computing stack with accelerated computing and generative AI.”

    “Blackwell samples are shipping to our partners and customers. Spectrum-X Ethernet for AI and NVIDIA AI Enterprise software are two new product categories achieving significant scale, demonstrating that NVIDIA is a full-stack and data center-scale platform. Across the entire stack and ecosystem, we are helping frontier model makers to consumer internet services, and now enterprises. Generative AI will revolutionize every industry.”

    During the first half of fiscal 2025, NVIDIA returned $15.4 billion to shareholders in the form of shares repurchased and cash dividends. As of the end of the second quarter, the company had $7.5 billion remaining under its share repurchase authorization. On August 26, 2024, the Board of Directors approved an additional $50.0 billion in share repurchase authorization, without expiration.

    NVIDIA will pay its next quarterly cash dividend of $0.01 per share on October 3, 2024, to all shareholders of record on September 12, 2024.

    On June 7, 2024, NVIDIA completed a ten-for-one forward stock split. All share and per-share amounts presented have been retroactively adjusted to reflect the stock split.

    Q2 Fiscal 2025 Summary

    GAAP
    ($ in millions, except earnings
    per share)    		 Q2 FY25 Q1 FY25 Q2 FY24 Q/Q Y/Y
    Revenue $30,040 $26,044 $13,507 Up 15% Up 122%
    Gross margin   75.1%   78.4%   70.1% Down 3.3 pts Up 5.0 pts
    Operating expenses $3,932 $3,497 $2,662 Up 12% Up 48%
    Operating income $18,642 $16,909 $6,800 Up 10% Up 174%
    Net income $16,599 $14,881 $6,188 Up 12% Up 168%
    Diluted earnings per share $0.67 $0.60 $0.25 Up 12% Up 168%
    Non-GAAP
    ($ in millions, except earnings
    per share)    		 Q2 FY25 Q1 FY25 Q2 FY24 Q/Q Y/Y
    Revenue $30,040 $26,044 $13,507 Up 15% Up 122%
    Gross margin   75.7%   78.9%   71.2% Down 3.2 pts Up 4.5 pts
    Operating expenses $2,792 $2,501 $1,838 Up 12% Up 52%
    Operating income $19,937 $18,059 $7,776 Up 10% Up 156%
    Net income $16,952 $15,238 $6,740 Up 11% Up 152%
    Diluted earnings per share $0.68 $0.61 $0.27 Up 11% Up 152%


    Outlook
    NVIDIA’s outlook for the third quarter of fiscal 2025 is as follows:

    • Revenue is expected to be $32.5 billion, plus or minus 2%.
    • GAAP and non-GAAP gross margins are expected to be 74.4% and 75.0%, respectively, plus or minus 50 basis points. For the full year, gross margins are expected to be in the mid-70% range.
    • GAAP and non-GAAP operating expenses are expected to be approximately $4.3 billion and $3.0 billion, respectively. Full-year operating expenses are expected to grow in the mid- to upper-40% range.
    • GAAP and non-GAAP other income and expense are expected to be an income of approximately $350 million, excluding gains and losses from non-affiliated investments and publicly-held equity securities.
    • GAAP and non-GAAP tax rates are expected to be 17%, plus or minus 1%, excluding any discrete items.

    Highlights
    NVIDIA achieved progress since its previous earnings announcement in these areas: 

    Data Center

    • Second-quarter revenue was a record $26.3 billion, up 16% from the previous quarter and up 154% from a year ago.
    • Announced that the combination of NVIDIA H200 Tensor Core and NVIDIA Blackwell architecture B200 Tensor Core processors swept the latest industry-standard MLPerf benchmark results for inference.
    • Revealed that H200 GPU-powered systems are now available on CoreWeave, the first cloud service provider to announce general availability.
    • Unveiled an array of Blackwell systems featuring NVIDIA Grace™ CPUs, networking and infrastructure from top manufacturers such as GIGABYTE, QCT and Wiwynn.
    • Reported broad adoption of the NVIDIA Spectrum-X™ Ethernet networking platform by cloud service providers, GPU cloud providers and enterprises, as well as partners incorporating it into their offerings.
    • Released NVIDIA NIM™ for broad availability to developers globally and announced more than 150 companies are integrating microservices into their platforms to speed generative AI application development.
    • Unveiled an inference service with Hugging Face powered by NIM microservices on NVIDIA DGX™ Cloud to enable developers to deploy popular large language models.
    • Introduced an NVIDIA AI Foundry service and NIM inference microservices to accelerate generative AI for the world’s enterprises with the Llama 3.1 collection of models.
    • Announced Japan advanced its sovereign AI capabilities with its ABCI 3.0 supercomputer, integrating H200 GPUs and NVIDIA Quantum-2 InfiniBand networking.
    • Accelerated quantum computing efforts at national supercomputing centers around the world with the open-source NVIDIA CUDA-Q™ platform.

    Gaming and AI PC

    • Second-quarter Gaming revenue was $2.9 billion, up 9% from the previous quarter and up 16% from a year ago. 
    • Announced NVIDIA ACE, a suite of generative AI technologies that bring digital humans to life, now includes NVIDIA Nemotron-4 4B, a small language model for on-device inference, and is available in early access for RTX AI PCs.
    • Introduced Project G-Assist, a technology preview demonstrating the power of AI agents to assist gamers and creators in real time.
    • Announced new NVIDIA GeForce RTX and DLSS titles, including Indiana Jones and the Great Circle, Dune: Awakening and Dragon Age: The Veilguard, bringing the total number of RTX games and apps to over 600.
    • Surpassed 2,000 games on GeForce NOW, expanded the service into Japan and announced launches of Black Myth: Wukong and Star Wars Outlaws.

    Professional Visualization

    • Second-quarter revenue was $454 million, up 6% from the previous quarter and up 20% from a year ago.
    • Introduced generative AI models and NIM microservices for OpenUSD to accelerate workflows and the development of industrial digital twins and robotics.
    • Announced major Taiwanese electronics makers are creating more autonomous factories with a new reference workflow that combines NVIDIA Metropolis vision AI, NVIDIA Omniverse™ simulation and NVIDIA Isaac™ AI robot development.

    Automotive and Robotics

    • Second-quarter Automotive revenue was $346 million, up 5% from the previous quarter and up 37% from a year ago.
    • Unveiled the world’s leaders in robot development, including BYD Electronics, Siemens and Teradyne Robotics, are adopting the Isaac robotics platform for R&D and production.
    • Announced Omniverse Cloud Sensor RTX™ microservices to enable physically accurate sensor simulation to speed development of autonomous machines.
    • Won the Autonomous Grand Challenge at the Computer Vision and Pattern Recognition conference in the category of End-to-End Driving at Scale for advances in building physical, generative AI applications for autonomous vehicle development.

    CFO Commentary
    Commentary on the quarter by Colette Kress, NVIDIA’s executive vice president and chief financial officer, is available at https://investor.nvidia.com.

    Conference Call and Webcast Information
    NVIDIA will conduct a conference call with analysts and investors to discuss its second quarter fiscal 2025 financial results and current financial prospects today at 2 p.m. Pacific time (5 p.m. Eastern time). A live webcast (listen-only mode) of the conference call will be accessible at NVIDIA’s investor relations website, https://investor.nvidia.com. The webcast will be recorded and available for replay until NVIDIA’s conference call to discuss its financial results for its third quarter of fiscal 2025.

    Non-GAAP Measures
    To supplement NVIDIA’s condensed consolidated financial statements presented in accordance with GAAP, the company uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income from operations, non-GAAP other income (expense), net, non-GAAP net income, non-GAAP net income, or earnings, per diluted share, and free cash flow. For NVIDIA’s investors to be better able to compare its current results with those of previous periods, the company has shown a reconciliation of GAAP to non-GAAP financial measures. These reconciliations adjust the related GAAP financial measures to exclude stock-based compensation expense, acquisition-related and other costs, other, gains from non-affiliated investments and publicly-held equity securities, net, interest expense related to amortization of debt discount, and the associated tax impact of these items where applicable. Free cash flow is calculated as GAAP net cash provided by operating activities less both purchases related to property and equipment and intangible assets and principal payments on property and equipment and intangible assets. NVIDIA believes the presentation of its non-GAAP financial measures enhances the user’s overall understanding of the company’s historical financial performance. The presentation of the company’s non-GAAP financial measures is not meant to be considered in isolation or as a substitute for the company’s financial results prepared in accordance with GAAP, and the company’s non-GAAP measures may be different from non-GAAP measures used by other companies.

    NVIDIA CORPORATION
     CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (In millions, except per share data)
    (Unaudited)
                         
                         
            Three Months Ended   Six Months Ended
            July 28,   July 30,   July 28,   July 30,
              2024       2023       2024       2023  
                         
    Revenue $ 30,040     $ 13,507     $ 56,084     $ 20,699  
    Cost of revenue   7,466       4,045       13,105       6,589  
    Gross profit   22,574       9,462       42,979       14,110  
                         
    Operating expenses              
      Research and development   3,090       2,040       5,810       3,916  
      Sales, general and administrative   842       622       1,618       1,253  
        Total operating expenses     3,932       2,662       7,428       5,169  
                         
    Operating Income   18,642       6,800       35,551       8,941  
      Interest income   444       187       803       338  
      Interest expense   (61 )     (65 )     (125 )     (131 )
      Other, net   189       59       264       42  
        Other income (expense), net     572       181       942       249  
                         
    Income before income tax   19,214       6,981       36,493       9,190  
    Income tax expense   2,615       793       5,013       958  
    Net income $ 16,599     $ 6,188     $ 31,480     $ 8,232  
                         
    Net income per share:              
      Basic $ 0.68     $ 0.25     $ 1.28     $ 0.33  
      Diluted $ 0.67     $ 0.25     $ 1.27     $ 0.33  
                         
    Weighted average shares used in per share computation:              
      Basic   24,578       24,729       24,599       24,716  
      Diluted   24,848       24,994       24,869       24,948  
                         
    NVIDIA CORPORATION  
    CONDENSED CONSOLIDATED BALANCE SHEETS  
    (In millions)  
    (Unaudited)  
                   
                   
            July 28,   January 28,  
             2024    2024  
    ASSETS          
                   
    Current assets:          
      Cash, cash equivalents and marketable securities   $ 34,800   $ 25,984  
      Accounts receivable, net     14,132     9,999  
      Inventories     6,675     5,282  
      Prepaid expenses and other current assets     4,026     3,080  
        Total current assets     59,633     44,345  
                   
    Property and equipment, net     4,885     3,914  
    Operating lease assets     1,556     1,346  
    Goodwill     4,622     4,430  
    Intangible assets, net     952     1,112  
    Deferred income tax assets     9,578     6,081  
    Other assets     4,001     4,500  
        Total assets   $ 85,227   $ 65,728  
                   
    LIABILITIES AND SHAREHOLDERS’ EQUITY
    		              
                   
    Current liabilities:          
      Accounts payable   $ 3,680   $ 2,699  
      Accrued and other current liabilities     10,289     6,682  
      Short-term debt     –     1,250  
        Total current liabilities     13,969     10,631  
                   
    Long-term debt     8,461     8,459  
    Long-term operating lease liabilities     1,304     1,119  
    Other long-term liabilities     3,336     2,541  
        Total liabilities     27,070     22,750  
                   
    Shareholders’ equity     58,157     42,978  
        Total liabilities and shareholders’ equity   $ 85,227   $ 65,728  
                   
    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  
                                   
    NVIDIA CORPORATION  
    RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES  
    (In millions, except per share data)  
    (Unaudited)  
                         
          Three Months Ended   Six Months Ended  
          July 28,   April 28,   July 30,   July 28,   July 30,  
            2024       2024       2023       2024       2023    
                             
    GAAP gross profit   $ 22,574     $ 20,406     $ 9,462     $ 42,979     $ 14,110    
      GAAP gross margin   75.1 %     78.4 %     70.1 %     76.6 %     68.2 %  
      Acquisition-related and other costs (A)   118       119       119       238       239    
      Stock-based compensation expense (B)   40       36       31       75       58    
      Other (C)     (3 )     (1 )     2       (4 )     10    
    Non-GAAP gross profit $ 22,729     $ 20,560     $ 9,614     $ 43,288     $ 14,417    
      Non-GAAP gross margin   75.7 %     78.9 %     71.2 %     77.2 %     69.7 %  
                             
    GAAP operating expenses $ 3,932     $ 3,497     $ 2,662     $ 7,428     $ 5,169    
      Stock-based compensation expense (B)   (1,114 )     (975 )     (811 )     (2,089 )     (1,518 )  
      Acquisition-related and other costs (A)   (26 )     (21 )     (18 )     (48 )     (72 )  
      Other (C)     –       –       5       –       10    
    Non-GAAP operating expenses $ 2,792     $ 2,501     $ 1,838     $ 5,291     $ 3,589    
                             
    GAAP operating income $ 18,642     $ 16,909     $ 6,800     $ 35,551     $ 8,941    
      Total impact of non-GAAP adjustments to operating income   1,295       1,150       976       2,446       1,887    
    Non-GAAP operating income $ 19,937     $ 18,059     $ 7,776     $ 37,997     $ 10,828    
                             
    GAAP other income (expense), net $ 572     $ 370     $ 181     $ 942     $ 249    
      Gains from non-affiliated investments and publicly-held equity securities, net   (193 )     (69 )     (62 )     (264 )     (46 )  
      Interest expense related to amortization of debt discount   1       1       1       2       2    
    Non-GAAP other income (expense), net $ 380     $ 302     $ 120     $ 680     $ 205    
                             
    GAAP net income   $ 16,599     $ 14,881     $ 6,188     $ 31,480     $ 8,232    
      Total pre-tax impact of non-GAAP adjustments   1,103       1,082       915       2,184       1,843    
      Income tax impact of non-GAAP adjustments (D)   (750 )     (725 )     (363 )     (1,475 )     (622 )  
    Non-GAAP net income $ 16,952     $ 15,238     $ 6,740     $ 32,189     $ 9,453    
                             
    Diluted net income per share                    
      GAAP   $ 0.67     $ 0.60     $ 0.25     $ 1.27     $ 0.33    
      Non-GAAP   $ 0.68     $ 0.61     $ 0.27     $ 1.29     $ 0.38    
                             
    Weighted average shares used in diluted net income per share computation   24,848       24,890       24,994       24,869       24,948    
                             
    GAAP net cash provided by operating activities $ 14,489     $ 15,345     $ 6,348     $ 29,833     $ 9,259    
      Purchases related to property and equipment and intangible assets   (977 )     (369 )     (289 )     (1,346 )     (537 )  
      Principal payments on property and equipment and intangible assets   (29 )     (40 )     (11 )     (69 )     (31 )  
    Free cash flow   $ 13,483     $ 14,936     $ 6,048     $ 28,418     $ 8,691    
                             
       
                             
    (A) Acquisition-related and other costs are comprised of amortization of intangible assets, transaction costs, and certain compensation charges and are included in the following line items:  
          Three Months Ended   Six Months Ended  
          July 28,   April 28,   July 30,   July 28,   July 30,  
            2024       2024       2023       2024       2023    
      Cost of revenue   $ 118     $ 119     $ 119     $ 238     $ 239    
      Research and development $ 17     $ 12     $ 12     $ 30     $ 24    
      Sales, general and administrative $ 9     $ 8     $ 6     $ 18     $ 48    
                             
    (B) Stock-based compensation consists of the following:        
          Three Months Ended   Six Months Ended  
          July 28,   April 28,   July 30,   July 28,   July 30,  
            2024       2024       2023       2024       2023    
      Cost of revenue   $ 40     $ 36     $ 31     $ 75     $ 58    
      Research and development $ 832     $ 727     $ 600     $ 1,559     $ 1,124    
      Sales, general and administrative $ 282     $ 248     $ 211     $ 530     $ 394    
                             
    (C) Other consists of IP-related costs and assets held for sale related adjustments.  
    (D) Income tax impact of non-GAAP adjustments, including the recognition of excess tax benefits or deficiencies related to stock-based compensation under GAAP accounting standard (ASU 2016-09).              
                                                 
                                                 
    NVIDIA CORPORATION  
    RECONCILIATION OF GAAP TO NON-GAAP OUTLOOK  
             
       
          Q3 FY2025
    Outlook    		  
          ($ in millions)  
             
    GAAP gross margin   74.4 %  
      Impact of stock-based compensation expense, acquisition-related costs, and other costs     0.6 %  
    Non-GAAP gross margin   75.0 %  
             
    GAAP operating expenses $ 4,250    
      Stock-based compensation expense, acquisition-related costs, and other costs     (1,250 )  
    Non-GAAP operating expenses $ 3,000    
             

    About NVIDIA
    NVIDIA (NASDAQ: NVDA) is the world leader in accelerated computing.

    For further information, contact:

    Certain statements in this press release including, but not limited to, statements as to: the strong demand for Hopper and the incredible anticipation for Blackwell; global data centers in full throttle to modernize the entire computing stack with accelerated computing and generative AI; the timing of Blackwell samples shipping to partners and customers; Spectrum-X Ethernet for AI and NVIDIA AI Enterprise software achieving significant scale; NVIDIA helping frontier model makers, consumer internet services, and enterprises; generative AI revolutionizing every industry; the benefits and performance of NVIDIA’s products and services, including NVIDIA H200, NVIDIA Blackwell and B200, NVIDIA Spectrum-X, NVIDIA NIM, NVIDIA DGX Cloud, NVIDIA AI Foundry service, NVIDIA Quantum-2 InfiniBand, NVIDIA CUDA-Q, NVIDIA ACE, NVIDIA Nemotron-4 4B, Project G-Assist, RTX AI Toolkit, NVIDIA Metropolis, NVIDIA Omniverse, NVIDIA Isaac and Omniverse Cloud Sensor RTX; NVIDIA’s next quarterly cash dividend; NVIDIA’s expected full-year gross margins and operating expenses; and NVIDIA’s financial outlook and expected tax rates for the third quarter of fiscal 2025 are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic conditions; our reliance on third parties to manufacture, assemble, package and test our products; the impact of technological development and competition; development of new products and technologies or enhancements to our existing product and technologies; market acceptance of our products or our partners’ products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; and unexpected loss of performance of our products or technologies when integrated into systems, as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of reports filed with the SEC are posted on the company’s website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.   

    © 2024 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, GeForce RTX, NVIDIA CUDA-Q, NVIDIA DGX, NVIDIA Grace, NVIDIA Isaac, NVIDIA NIM, NVIDIA Omniverse, NVIDIA RTX, NVIDIA Spectrum-X and Omniverse Cloud Sensor RTX are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and/or other countries. Other company and product names may be trademarks of the respective companies with which they are associated. Features, pricing, availability and specifications are subject to change without notice. 

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/24a5522e-6258-4e72-9c8a-a57178db4b41









    FAQ



    What was NVIDIA’s (NVDA) revenue for Q2 FY2025?


    NVIDIA reported record quarterly revenue of $30.0 billion for Q2 FY2025, up 122% from a year ago.


    How much did NVIDIA’s (NVDA) Data Center revenue grow in Q2 FY2025?


    NVIDIA’s Data Center revenue reached $26.3 billion in Q2 FY2025, up 154% from a year ago.


    What is NVIDIA’s (NVDA) revenue guidance for Q3 FY2025?


    NVIDIA expects revenue of $32.5 billion, plus or minus 2%, for Q3 FY2025.


    How much did NVIDIA (NVDA) approve for share repurchases in August 2024?


    NVIDIA’s Board of Directors approved an additional $50.0 billion in share repurchase authorization on August 26, 2024.


    What was NVIDIA’s (NVDA) GAAP earnings per share for Q2 FY2025?


    NVIDIA reported GAAP earnings per diluted share of $0.67 for Q2 FY2025, up 168% from a year ago.





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