- Quarterly revenue of $2.21 billion, down 24 percent from a year ago
- Record full-year revenue of $11.72 billion, up 21 percent from a year ago
- Record full-year revenue from Gaming, Datacenter, Professional Visualization and Automotive
SANTA CLARA, Calif., Feb. 14, 2019 (GLOBE NEWSWIRE) -- NVIDIA (NASDAQ: NVDA) today reported revenue for the fourth quarter ended Jan. 27, 2019, of $2.21 billion, down 24 percent from $2.91 billion a year earlier, and down 31 percent from $3.18 billion in the previous quarter.
GAAP earnings per diluted share for the quarter were $0.92, down 48 percent from $1.78 a year ago and down 53 percent from $1.97 in the previous quarter. Non-GAAP earnings per diluted share were $0.80, down 53 percent from $1.72 a year earlier and down 57 percent from $1.84 in the previous quarter.
For fiscal 2019, revenue was $11.72 billion, up 21 percent from $9.71 billion a year earlier. GAAP earnings per diluted share were $6.63, up 38 percent from $4.82 a year earlier. Non-GAAP earnings per diluted share were $6.64, up 35 percent from $4.92 a year earlier.
“This was a turbulent close to what had been a great year,” said Jensen Huang, founder and CEO of NVIDIA. “The combination of post-crypto excess channel inventory and recent deteriorating end-market conditions drove a disappointing quarter.
“Despite this setback, NVIDIA’s fundamental position and the markets we serve are strong. The accelerated computing platform we pioneered is central to some of world’s most important and fastest growing industries – from artificial intelligence to autonomous vehicles to robotics. We fully expect to return to sustained growth,” he said.
Capital Return
In fiscal 2019, NVIDIA returned $1.95 billion to shareholders through a combination of $1.58 billion in share repurchases and $371 million in quarterly cash dividends.
Of the $3.00 billion NVIDIA intends to return to shareholders by the end of fiscal 2020, $700 million in share repurchases were completed in the fourth quarter of fiscal 2019. The company intends to return the remaining $2.30 billion by the end of fiscal 2020, through a combination of share repurchases and cash dividends.
NVIDIA will pay its next quarterly cash dividend of $0.16 per share on March 22, 2019, to all shareholders of record on March 1, 2019.
Q4 Fiscal 2019 Summary
| GAAP | |||||||||||
| ($ in millions except earnings per share) | Q4 FY19 | Q3 FY19 | Q4 FY18 | Q/Q | Y/Y | ||||||
| Revenue | $2,205 | $3,181 | $2,911 | Down 31% | Down 24% | ||||||
| Gross margin | 54.7% | 60.4% | 61.9% | Down 570 bps | Down 720 bps | ||||||
| Operating expenses | $913 | $863 | $728 | Up 6% | Up 25% | ||||||
| Operating income | $294 | $1,058 | $1,073 | Down 72% | Down 73% | ||||||
| Net income | $567 | $1,230 | $1,118 | Down 54% | Down 49% | ||||||
| Diluted earnings per share | $0.92 | $1.97 | $1.78 | Down 53% | Down 48% | ||||||
| Non-GAAP | |||||||||||
| ($ in millions except earnings per share) | Q4 FY19 | Q3 FY19 | Q4 FY18 | Q/Q | Y/Y | ||||||
| Revenue | $2,205 | $3,181 | $2,911 | Down 31% | Down 24% | ||||||
| Gross margin | 56.0% | 61.0% | 62.1% | Down 500 bps | Down 610 bps | ||||||
| Operating expenses | $755 | $730 | $607 | Up 3% | Up 24% | ||||||
| Operating income | $479 | $1,210 | $1,202 | Down 60% | Down 60% | ||||||
| Net income | $496 | $1,151 | $1,081 | Down 57% | Down 54% | ||||||
| Diluted earnings per share | $0.80 | $1.84 | $1.72 | Down 57% | Down 53% | ||||||
