Key Statistics |
|
|
|
|
|
|
(Dollars in millions) |
| Q4 18 |
| Q3 18 |
| Q4 17 |
Cash from operations |
| $ 2,635 |
| $ 2,247 |
| $ 1,959 |
Depreciation |
| $ 132 |
| $ 129 |
| $ 117 |
Amortization of acquisition-related intangible assets |
| $ 829 |
| $ 830 |
| $ 1,099 |
Capital expenditures |
| $ 106 |
| $ 120 |
| $ 233 |
Days sales outstanding ("DSO") |
| 56 |
| 54 |
| 46 |
Inventory days on hand ("DOH") |
| 59 |
| 66 |
| 73 |
Non-GAAP DSO |
| 56 |
| 54 |
| 46 |
Non-GAAP Inventory DOH |
| 59 |
| 67 |
| 74 |
Fiscal Year 2018 Financial Results From Continuing Operations
Net revenue from continuing operations was $20,848 million, an increase of 18 percent from $17,636 million in the prior year. Gross margin was $10,733 million, or 51.5 percent of net revenue, versus $8,509 million, or 48.2 percent of net revenue, in the prior year. Operating income was $5,135 million compared with $2,383 million in the prior year. Net income, which includes the impact from discontinued operations, was $12,610 million, or $28.44 per diluted share. This compares with a net income of $1,784 million, or $4.02 per diluted share, in fiscal year 2017.
Fiscal Year 2018 GAAP Results |
|
|
|
|
|
|
(Dollars in millions, except per share data) |
| 2018 |
| 2017 |
| Change |
Net revenue |
| $ 20,848 |
| $ 17,636 |
| +18% |
Gross margin |
| 51.5% |
| 48.2% |
| +330bps |
Operating expenses |
| $ 5,598 |
| $ 6,126 |
| -$ 528 |
Net income |
| $ 12,610 |
| $ 1,784 |
| +$ 10,826 |
Net income attributable to noncontrolling interest |
| $ 351 |
| $ 92 |
| +$ 259 |
Net income attributable to common stock |
| $ 12,259 |
| $ 1,692 |
| +$ 10,567 |
Earnings per share - diluted |
| $ 28.44 |
| $ 4.02 |
| +$ 24.42 |
Non-GAAP net revenue from continuing operations was $20,862 million, an increase of 18 percent from $17,665 million in the prior year. Non-GAAP gross margin was $13,931 million, or 66.8 percent of net revenue, versus $11,137 million, or 63.0 percent of net revenue, in the prior year. Non-GAAP operating income from continuing operations was $10,424 million. This compares with $8,011 million in the prior year. Non-GAAP net income was $9,391 million, or $20.82 per diluted share. This compares with non-GAAP net income of $7,255 million, or $16.02 per diluted share, in fiscal year 2017.
