NVIDIA Reveals Robust Financial Results for Q4 and Fiscal Year 2024: NVIDIA, a leading technology company (NASDAQ: NVDA), has announced impressive financial results for the fourth quarter ended January 28, 2024. The company reported a record revenue of $22.1 billion, marking a substantial 22% increase from the previous quarter and an extraordinary 265% increase from the same period last year.
Earnings Growth
In the fourth quarter, NVIDIA also saw significant growth in GAAP earnings per diluted share, reaching $4.93, up 33% from the previous quarter and an astounding 765% from a year ago. Non-GAAP earnings per diluted share were $5.16, up 28% from the previous quarter and an impressive 486% from a year ago.
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Full-Year Performance
For the full fiscal year 2024, NVIDIA reported revenue of $60.9 billion, reflecting a remarkable 126% increase from the previous fiscal year. GAAP earnings per diluted share for the fiscal year were $11.93, up an impressive 586% from a year ago, while non-GAAP earnings per diluted share were $12.96, up 288% from a year ago.
NVIDIA Reveals Robust Financial Results for Q4 and Fiscal Year 2024.
CEO Commentary
Jensen Huang, the founder and CEO of NVIDIA, commented on the company’s success, stating, “Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries, and nations.” He highlighted the diverse drivers behind the growth, including demand for data processing, training, and inference from large cloud-service providers, GPU-specialized companies, and enterprise software and consumer internet companies. Huang also noted the significant growth in vertical industries such as auto, financial services, and healthcare.
Future Outlook
Huang further emphasized the success of NVIDIA RTX, a platform for generative AI that has gained popularity among gamers and creators, with 100 million users worldwide. Looking ahead, he expressed excitement about major new product cycles and innovations that will drive the industry forward. Huang invited stakeholders to join NVIDIA at the upcoming GTC event to learn more about the company’s future plans.
Dividend Announcement
In addition to its financial performance, NVIDIA announced that it will pay its next quarterly cash dividend of $0.04 per share on March 27, 2024, to all shareholders of record on March 6, 2024.
