Nvidia Surges with $22.1B Q4 Revenue, Dominates in AI and Gaming
Nvidia has reported exceptional financial results for the fourth quarter and fiscal year 2024, surpassing expectations significantly. The company's revenue for the fourth quarter reached an impressive $22.1 billion, marking a 22% increase from the previous quarter and a striking 265% rise from the previous year. This performance exceeded Wall Street's projection of $20.6 billion.
Nvidia's earnings per share (EPS) also outperformed forecasts, registering at $5.16 per share, notably higher than the anticipated $4.64 per share.
For the fiscal year 2024, Nvidia achieved a record revenue of $60.9 billion, which is a remarkable 126% increase from the previous year. The company's non-GAAP net income saw a 286% rise to $32.3 billion, and the diluted earnings per share soared by 288% to $12.96.
Nvidia's data center segment was a significant driver of this growth, with fourth-quarter revenue reaching $18.4 billion, a 27% increase from the previous quarter and an exceptional 409% increase from the same period last year. The company's full-year revenue for the data center segment hit a record $47.5 billion, a 217% increase.
In gaming, the fourth-quarter revenue was stable at $2.9 billion, reflecting a 56% increase from the previous year. The full-year gaming revenue rose by 15% to $10.4 billion. The professional visualization and automotive segments also contributed to Nvidia's financial success, with notable increases in their revenues.
Looking ahead, Nvidia anticipates revenue of about $24 billion for the first quarter of fiscal 2025, with expectations for continued strong performance in gross margins and operating expenses.
The company's success is attributed to its strategic advancements in AI technology, gaming hardware, and cutting-edge technologies, positioning it as a leading player in these sectors.
These results reflect Nvidia's strong position in the market, especially given the increasing demand for AI and gaming technologies. The company's focus on innovation and strategic collaborations continues to drive its financial success and industry leadership.
This news references data from sources like Yahoo Finance & Bloomberg.
