NVIDIA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In millions, except per share data)
(Unaudited)
| Three Months Ended | Six Months Ended | ||||||||||||||||
| July 30, 2023 | July 31, 2022 | July 30, 2023 | July 31, 2022 | ||||||||||||||
| Revenue | $ | 13,507 | $ | 6,704 | $ | 20,699 | $ | 14,992 | |||||||||
| Cost of revenue | 4,045 | 3,789 | 6,589 | 6,646 | |||||||||||||
| Gross profit | 9,462 | 2,915 | 14,110 | 8,346 | |||||||||||||
| Operating expenses | |||||||||||||||||
| Research and development | 2,040 | 1,824 | 3,916 | 3,443 | |||||||||||||
| Sales, general and administrative | 622 | 592 | 1,253 | 1,183 | |||||||||||||
| Acquisition termination cost | — | — | — | 1,353 | |||||||||||||
| Total operating expenses | 2,662 | 2,416 | 5,169 | 5,979 | |||||||||||||
| Operating income | 6,800 | 499 | 8,941 | 2,367 | |||||||||||||
| Interest income | 187 | 46 | 338 | 64 | |||||||||||||
| Interest expense | (65 | ) | (65 | ) | (131 | ) | (132 | ) | |||||||||
| Other, net | 59 | (5 | ) | 42 | (19 | ) | |||||||||||
| Other income (expense), net | 181 | (24 | ) | 249 | (87 | ) | |||||||||||
| Income before income tax | 6,981 | 475 | 9,190 | 2,280 | |||||||||||||
| Income tax expense (benefit) | 793 | (181 | ) | 958 | 6 | ||||||||||||
| Net income | $ | 6,188 | $ | 656 | $ | 8,232 | $ | 2,274 | |||||||||
| Net income per share: | |||||||||||||||||
| Basic | $ | 2.50 | $ | 0.26 | $ | 3.33 | $ | 0.91 | |||||||||
| Diluted | $ | 2.48 | $ | 0.26 | $ | 3.30 | $ | 0.90 | |||||||||
| Weighted average shares used in per share computation: | |||||||||||||||||
| Basic | 2,473 | 2,495 | 2,472 | 2,500 | |||||||||||||
| Diluted | 2,499 | 2,516 | 2,495 | 2,526 | |||||||||||||
