- Introduced the GeForce® GTX® 1660 Ti, GTX 1660 and GTX 1650 gaming GPUs with improved performance and efficiency for today’s most popular games.
- Announced a record number of gaming laptop models based on Turing GPUs from the world’s top makers, bringing the total launched this year to nearly 100.
- Announced that real-time ray tracing is now integrated into Unreal Engine and Unity, the world’s most popular commercial game engines.
- Announced expanded adoption of NVIDIA RTX ray-tracing technology by the world’s top 3D application providers.
- Unveiled the NVIDIA Omniverse open-collaboration platform to simplify creative workflows for content creation.
- Partnered with Toyota Research Institute-Advanced Development to develop, train and validate self-driving vehicles.
- Unveiled NVIDIA DRIVE™ AP2X, a complete Level 2+ automated driving solution encompassing DRIVE AutoPilot software, DRIVE AGX and DRIVE validation tools.
- Introduced NVIDIA DRIVE AV Safety Force Field to enable safe, comfortable driving experiences.
- Announced availability of the NVIDIA DRIVE Constellation™ autonomous vehicle simulation platform.
- Launched Jetson Nano™, an AI computer that makes it possible to create millions of small, low-cost, low-power devices.
- Announced free public availability of NVIDIA Isaac SDK™ as a robotics developer toolbox for accelerating innovation and deployment.
- Announced that the NVIDIA Jetson™ AI computer platform now supports Amazon Web Services RoboMaker.
- Teamed up with AWS IoT Greengrass to enable customers to deploy AI and deep learning to millions of connected devices with NVIDIA Jetson.
- Collaborated with Microsoft to make cities smarter by integrating NVIDIA DeepStream Edge AI and Microsoft Azure IoT.
Commentary on the quarter by Colette Kress, NVIDIA’s executive vice president and chief financial officer, is available at http://investor.nvidia.com/.
Conference Call and Webcast Information
NVIDIA will conduct a conference call with analysts and investors to discuss its first quarter fiscal 2020 financial results and current financial prospects today at 2:30 p.m. Pacific time (5:30 p.m. Eastern time). A live webcast (listen-only mode) of the conference call will be accessible at NVIDIA’s investor relations website, http://investor.nvidia.com. The webcast will be recorded and available for replay until NVIDIA’s conference call to discuss its financial results for its second quarter of fiscal 2020.
To supplement NVIDIA’s Condensed Consolidated Statements of Income and Condensed Consolidated Balance Sheets 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), non-GAAP income tax expense, non-GAAP net income, non-GAAP net income, or earnings, per diluted share, non-GAAP diluted shares, and free cash flow. In order 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, legal settlement costs, acquisition-related and other costs, gains from non-affiliated investments, interest expense related to amortization of debt discount, the associated tax impact of these items, where applicable, and the tax benefit from income tax reform. Weighted average shares used in the non-GAAP diluted net income per share computation includes the anti-dilution impact of our Note Hedge. Free cash flow is calculated as GAAP net cash provided by operating activities less purchase of 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.
|CONDENSED CONSOLIDATED STATEMENTS OF INCOME|
|(In millions, except per share data)|
|Three Months Ended|
|April 28,||April 29,|
|Cost of revenue||924||1,139|
|Research and development||674||542|
|Sales, general and administrative||264||231|
|Total operating expenses||938||773|
|Income from operations||358||1,295|
|Total other income (expense)||31||16|
|Income before income tax||389||1,311|
|Income tax expense (benefit)||(5||)||67|
|Net income per share:|
|Weighted average shares used in per share computation:|