Quartely Summary

12 Months Ended

Jan. 28, 2018

Quarterly Financial Data [Abstract]

Quarterly Financial Information

Quarterly Summary (Unaudited)

The following table sets forth our unaudited consolidated financial results, for the last eight fiscal quarters:

	Fiscal Year 2018 Quarters Ended
	January 28, 2018		October 28, 2017		July 29, 2017		April 29, 2017
	(In millions, except per share data)
Statements of Income Data:
Revenue	$	2,911	$	2,636	$	2,230	$	1,937
Cost of revenue	$	1,110	$	1,067	$	928	$	787
Gross profit	$	1,801	$	1,569	$	1,302	$	1,150
Net income (1)	$	1,118	$	838	$	583	$	507
Net income per share (1):
Basic	$	1.84	$	1.39	$	0.98	$	0.86
Diluted	$	1.78	$	1.33	$	0.92	$	0.79

(1) In the fourth quarter of fiscal year 2018, we recorded a U.S. tax reform provisional net tax benefit of $133 million associated with the one-time transition tax on our historical foreign earnings and the adjustment of deferred tax balances to the lower corporate tax rate. Refer to Note 13 of these Notes to the Consolidated Financial Statements for a discussion regarding the U.S. tax reform.

	Fiscal Year 2017 Quarters Ended
	January 29, 2017		October 30, 2016		July 31, 2016		May 1, 2016
	(In millions, except per share data)
Statements of Income Data:
Revenue	$	2,173	$	2,004	$	1,428	$	1,305
Cost of revenue	$	870	$	821	$	602	$	554
Gross profit	$	1,303	$	1,183	$	826	$	751
Net income (1)	$	655	$	542	$	261	$	208
Net income per share (1):
Basic	$	1.18	$	1.01	$	0.49	$	0.39
Diluted	$	0.99	$	0.83	$	0.41	$	0.35

(1) In the third quarter of fiscal year 2017, we adopted an accounting standard related to stock-based compensation, which requires adjustments to be reflected beginning in fiscal year 2017. The adoption of the new accounting standard impacted our previously reported quarterly results for fiscal year 2017.