NVIDIA Shatters Records with Stunning Fiscal 2024 Performance

In an astonishing display of fiscal prowess, NVIDIA has announced its financial results for the fourth quarter and full fiscal year 2024, setting new benchmarks in the tech industry. The company reported a record-breaking quarterly revenue of $22.1 billion, marking a 22% increase from the previous quarter and an impressive 265% surge from the same period last year. This surge is attributed to the booming demand for accelerated computing and generative AI, which have become pivotal in the digital transformation across various sectors.

NVIDIA’s Data Center revenue alone stood at a staggering $18.4 billion for the quarter, up 27% from Q3 and a whopping 409% from the year-ago period, underscoring the vital role of NVIDIA’s technology in powering the world’s data processing, AI training, and inference needs.

For the fiscal year 2024, NVIDIA’s revenue soared by 126% to $60.9 billion, with GAAP earnings per diluted share increasing by 586% to $11.93, and non-GAAP earnings per diluted share climbing by 288% to $12.96. This performance highlights NVIDIA’s successful navigation through the challenges and opportunities of the past year, driven by its innovation in GPU technology and strategic market positioning.

Jensen Huang, NVIDIA’s founder and CEO, remarked on the company’s monumental achievements, stating, “Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries, and nations.” He further highlighted the diverse drivers of NVIDIA’s Data Center platform, including the demand from cloud-service providers, enterprise software, consumer internet companies, and vertical industries like auto, financial services, and healthcare.

NVIDIA’s RTX platform, introduced less than six years ago, has now become a cornerstone in the PC gaming and creative sectors, with over 100 million users enjoying the benefits of generative AI. Looking forward, Huang teased major new product cycles and exceptional innovations poised to propel the industry forward, inviting enthusiasts to join the upcoming GTC event for a glimpse into the future.

In addition to its financial accomplishments, NVIDIA announced a quarterly cash dividend of $0.04 per share, reinforcing its commitment to shareholder returns. The company also provided an optimistic outlook for the first quarter of fiscal 2025, expecting revenue to be around $24.0 billion, with gross margins anticipated to remain strong.

This financial milestone is not just a testament to NVIDIA’s market leadership but also to the accelerating adoption of AI and computing technologies across the globe. As industries continue to evolve, NVIDIA’s innovative platforms and strategic partnerships, such as those with Google, Amazon Web Services, and numerous others, position it at the forefront of the technological revolution, promising an exciting future ahead.

With a relentless focus on innovation and strategic expansion, NVIDIA continues to redefine the boundaries of computing, AI, and digital transformation, setting the stage for continued growth and leadership in the tech industry.

Q4 Fiscal 2024 Summary

Fiscal 2024 Summary

Category: Nvidia

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