NVIDIA announces fourth quarter and full fiscal year financial results for fiscal year 2024

NVIDIA has disclosed its financial results for the fourth fiscal quarter ending January 28, 2024, as well as the annual report for the fiscal year 2024. Mr. Jensen Huang, the founder and CEO of NVIDIA, stated that in less than six years, NVIDIA RTX has emerged as a vast PC platform for generative AI, beloved by one hundred million gamers and content creators alike. The upcoming year promises significant new product cycles and remarkable innovations to further propel the industry forward.

The financial report reveals that NVIDIA’s revenue in the fourth quarter of fiscal year 2024 reached $22.1 billion, marking a 265% increase year-over-year and a 22% increase sequentially; net profit soared to $12.285 billion, up 769% from the previous year and 33% from the previous quarter. Specifically, the gaming segment generated $2.9 billion in revenue, a 56% increase year-over-year, remaining stable from the previous quarter; data center revenue skyrocketed to $18.4 billion, up 409% year-over-year and 27% sequentially; visualization revenue was $463 million, doubling year-over-year with a 105% increase and an 11% increase sequentially; automotive revenue slightly declined to $281 million, down 4% year-over-year but up 8% sequentially. Additionally, NVIDIA’s gross margin expanded to 76%, a substantial increase of 12.7 percentage points from the same period last year and 2 percentage points from the previous quarter.

Reflecting on the entire fiscal year 2024, NVIDIA’s revenue amounted to $609.22 billion, a 126% increase; net profit surged to $297.6 billion, up 581%; gaming revenue grew to $10.4 billion, a 15% increase; data center revenue reached a record $47.5 billion, up 217%; visualization revenue climbed to $1.6 billion, a modest 1% increase; automotive revenue grew to $1.1 billion, an 11% increase. Furthermore, the profit margin was 72.7%, rising 15.8 percentage points from the previous year.

Looking ahead to the first quarter of fiscal year 2025, NVIDIA anticipates continued revenue growth, projecting $24 billion, with a possible variance of ±2%, and a gross margin of 76.3%, with a variance of ±50 basis points.