Analyst Conference Summary


conference date: August 10, 2017 @ 2:00 PM Pacific Time
for quarter ending: July 30, 2017 (Q2, second quarter fiscal 2018)

Forward-looking statements

I missed this conference, just put in a few numbers for continuity.

Overview: Strong revenue and profit ramp continues.

Basic data (GAAP) :

Revenues were $2.23 billion, % sequentially from $1.94 billion, and up % from $ billion in the year-earlier quarter.

Net income was $583 million, 15% sequentially from $507 million and up 123% from $261 million year-earlier.

EPS (diluted earnings per share) were $0.92, up 16% sequentially from $0.79, and up 124% the $0.41 year-earlier.



Conference Highlights:

Jensen Huang, CEO of Nvidia, said "Datacenter revenue increased more than two and a half times. A growing number of car and robot-taxi companies are choosing our DRIVE PX self-driving computing platform. And in Gaming, increasingly the world's most popular form of entertainment, we power the fastest growing platforms - GeForce and Nintendo Switch. Nearly every industry and company is awakening to the power of AI. Our new Volta GPU, the most complex processor ever built, delivers a 100-fold speedup for deep learning beyond our best GPU of four years ago. This quarter, we shipped Volta in volume to leading AI customers. This is the era of AI, and the NVIDIA GPU has become its brain. We have incredible opportunities ahead of us."

GPU segment revenue was $ billion, up % sequentially from $1.85 billion, and up % y/y.

Tegra segment revenue was $ million, up % sequentially from $257 million and up % from year-earlier.

In addition to the segments, NVDA reports revenue by a number of market platforms:

Gaming revenue was $ billion, up % sequentially from $1.35 million, and up % from year-earlier.

Professional visualization (Quadro) revenue was $ million, up % sequentially from $ million, and up % y/y.

Datacenter revenue was $ million, up % sequentially from $ million, and more than tripled from year-earlier. "AI is transforming industries worldwide." Grid graphics virtualization doubled y/y.

Automotive revenue was $ million, up % sequentially from $ million, and up % y/y.

OEM and IP business revenue was $ million , down % sequentially from $ million and down % from year-earlier.

Nvidia's GPUs will become available in the Microsoft Azure cloud, Google , Tencent, IBM, and Baidu clouds.

Non-GAAP numbers: Net income $638 million, up 20% sequentially from $533 million, and up 104% from $313 million year-earlier. EPS $1.01, up 19% sequentially from $0.85, and up 91% from $0.53 year-earlier. 58.6% gross margin. Excludes $ million in stock-based compensation and other non-cash and one-time items.

Cash and equivalents balance was $ billion, down sequentially from $6.20 billion. $ million cash from operations. $ million was used for capital expenditures. $ million free cash flow. Repurchased shares using $ million. $ million was used for dividends. Long-term debt $ billion.

GAAP cost of goods sold was $ million, leaving gross profit of $ billion. Operating expenses of $ million consisted of $ million for R&D and $ million for Sales, General and Administrative expense. Leaving operating income of $ million. Interest and other expense $ million. Income tax expense $ million.



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Disclaimer: Our analyst summaries may include both our condensations of statements made by company representatives and our own analysis. They are not covered by any warranty. We cannot guarantee anything said by company representatives is true. We try not to make errors, but it is possible. Before making or terminating an investment you should always verify any factual basis of your decision.

Copyright 2017 William P. Meyers