NVIDIA’s Q4 and Fiscal 2024 Results Reveal Impressive 126% YoY Revenue Growth, Data Centers Thrive

NVIDIA reports impressive financial results for Q4 2024, with a 22% increase in revenue and significant growth in earnings per share, driven by demand for accelerated computing and generative AI technologies, and plans to unveil new advancements at the upcoming GTC conference.

Impressive financial results with a 22% increase in revenue from the previous quarter and a 265% increase from the same period last year
Significant growth in earnings per diluted share, with a 33% increase on a GAAP basis and a 765% increase from a year ago
Success in various sectors, including Data Center, gaming, professional visualization, and automotive, showcasing NVIDIA's diverse capabilities and market reach

nVidia, the technology company known for its advanced computing and artificial intelligence solutions, has reported impressive financial results for the fourth quarter of 2024. The company’s revenue reached a staggering $22.1 billion, marking a 22% increase from the previous quarter and a remarkable 265% increase from the same period last year.

The growth in revenue also translated into substantial earnings per diluted share. On a GAAP basis, earnings per share stood at $4.93, representing a 33% increase from the previous quarter and an astonishing 765% increase from a year ago. Non-GAAP earnings per diluted share reached $5.16, showing a 28% increase from the previous quarter and an impressive 486% increase from a year ago.

Jensen Huang, the esteemed founder and CEO of NVIDIA, attributed this exceptional performance to the increasing demand for accelerated computing and generative AI technologies. These solutions have reached a tipping point and are experiencing a surge in demand across various industries, companies, and nations.

NVIDIA’s Data Center platform, which caters to the needs of cloud service providers, enterprise software companies, and consumer internet firms, has been a key driver of the company’s success. Additionally, vertical industries such as automotive, financial services, and healthcare have also contributed significantly to NVIDIA’s multibillion-dollar growth.

One of NVIDIA’s notable achievements is the success of its RTX platform, which was introduced less than six years ago. This platform has become a massive force in the PC industry, attracting over 100 million gamers and creators who benefit from its generative AI capabilities. Looking ahead, NVIDIA is gearing up for major product cycles that promise exceptional innovations to propel the industry forward.

To learn more about NVIDIA’s exciting future plans, industry enthusiasts are invited to join the company at the upcoming GPU Technology Conference (GTC), where NVIDIA and its ecosystem partners will unveil their latest advancements.

In addition to its remarkable financial performance, NVIDIA also announced that it will be paying a quarterly cash dividend of $0.04 per share on March 27, 2024, to all its shareholders of record as of March 6, 2024.

Looking ahead to the first quarter of fiscal 2025, NVIDIA has provided an outlook that reflects its positive growth trajectory. The company expects revenue to reach approximately $24.0 billion, with GAAP and non-GAAP gross margins projected to be around 76.3% and 77.0%, respectively. Operating expenses are estimated to be approximately $3.5 billion on a GAAP basis and $2.5 billion on a non-GAAP basis. Other income and expense are expected to amount to approximately $250 million, and the tax rate is projected to be around 17.0%.

NVIDIA’s achievements in various sectors have been noteworthy. In the Data Center domain, the company achieved record-breaking revenue of $18.4 billion in the fourth quarter, representing a 27% increase from the previous quarter and a remarkable 409% increase from a year ago. The full-year revenue for this segment rose by an impressive 217% to reach a record $47.5 billion.

NVIDIA has also made significant strides in the gaming industry, with fourth-quarter revenue reaching $2.9 billion, remaining flat from the previous quarter but showing a substantial 56% increase from a year ago. The company launched the Geforce RTX 40 SUPER Series GPUs, which support the latest NVIDIA RTX technologies, including DLSS 3.5 Ray Reconstruction and NVIDIA Reflex.

In the field of professional visualization, NVIDIA achieved fourth-quarter revenue of $463 million, up 11% from the previous quarter and an impressive 105% increase from a year ago. The full-year revenue for this segment increased by 1% to reach $1.6 billion.

NVIDIA’s automotive division also experienced growth, with fourth-quarter revenue amounting to $281 million, an 8% increase from the previous quarter. The full-year revenue for this segment rose by 21% to reach $1.1 billion. Notable announcements in this sector include the adoption of NVIDIA’s DRIVE platform by important automotive companies such as Great Wall Motors, ZEEKR, Xiaomi, and Li Auto.

Colette Kress, NVIDIA’s executive vice president and chief financial officer, provided insightful commentary on the company’s financial performance for the quarter. Interested readers can find her commentary on NVIDIA’s official website.

Overall, NVIDIA’s exceptional financial results and advancements in various sectors position the company as a leader in the technology industry. With its continued focus on accelerated computing and generative AI, NVIDIA is well-positioned to shape the future of technology and drive innovation across industries.

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Background Information

About nVidia:

NVIDIA has firmly established itself as a leader in the realm of client computing, continuously pushing the boundaries of innovation in graphics and AI technologies. With a deep commitment to enhancing user experiences, NVIDIA's client computing business focuses on delivering solutions that power everything from gaming and creative workloads to enterprise applications. for its GeForce graphics cards, the company has redefined high-performance gaming, setting industry standards for realistic visuals, fluid frame rates, and immersive experiences. Complementing its gaming expertise, NVIDIA's Quadro and NVIDIA RTX graphics cards cater to professionals in design, content creation, and scientific fields, enabling real-time ray tracing and AI-driven workflows that elevate productivity and creativity to unprecedented heights. By seamlessly integrating graphics, AI, and software, NVIDIA continues to shape the landscape of client computing, fostering innovation and immersive interactions in a rapidly evolving digital world.

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Technology Explained

DLSS: DLSS (Deep Learning Super Sampling) is an advanced AI-powered technology developed by NVIDIA that enhances real-time graphics rendering in video games and applications. DLSS utilizes deep learning algorithms to upscale lower-resolution images in real-time, resulting in higher-quality visuals while maintaining optimal performance. By harnessing the power of AI and deep neural networks, DLSS effectively boosts frame rates and image quality, enabling gamers to experience smoother gameplay and more immersive graphics without sacrificing computational efficiency. This technology has gained widespread recognition for its ability to deliver impressive visual fidelity and improved performance simultaneously, revolutionizing the way modern computer graphics are processed and displayed.

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Geforce: Geforce is a line of graphics processing units (GPUs) developed by Nvidia. It is the most popular GPU used in the computer industry today. Geforce GPUs are used in gaming PCs, workstations, and high-end laptops. They are also used in virtual reality systems, artificial intelligence, and deep learning applications. Geforce GPUs are designed to deliver high performance and power efficiency, making them ideal for gaming and other demanding applications. They are also capable of rendering high-resolution graphics and providing smooth, realistic visuals. Geforce GPUs are used in a variety of applications, from gaming to professional workstations, and are the preferred choice for many computer users.

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GPU: GPU stands for Graphics Processing Unit and is a specialized type of processor designed to handle graphics-intensive tasks. It is used in the computer industry to render images, videos, and 3D graphics. GPUs are used in gaming consoles, PCs, and mobile devices to provide a smooth and immersive gaming experience. They are also used in the medical field to create 3D models of organs and tissues, and in the automotive industry to create virtual prototypes of cars. GPUs are also used in the field of artificial intelligence to process large amounts of data and create complex models. GPUs are becoming increasingly important in the computer industry as they are able to process large amounts of data quickly and efficiently.