Nvidia Announces Fourth Quarter and Full Year Financial Results for Fiscal Year 2023
Nvidia announced today its fourth quarter of fiscal 2023 (ending January 29, 2023) and its financial report for fiscal 2023. Mr. Jensen Huang, founder, and CEO of Nvidia said that the game business has also begun to recover from the downturn after the COVID-19 epidemic. Colette Kress, Nvidia’s chief financial officer, said that the decline in performance due to inventory adjustments has largely passed, and demand in most regions is stable.
The financial report shows that in the fourth quarter of the fiscal year 2023, Nvidia’s revenue was $6.005 billion, a year-on-year decrease of 21% and a month-on-month increase of 2%; net profit was $1.4 billion, a year-on-year decrease of 52% and a month-on-month increase of 111%; among them, the game business revenue was $1.83 billion, a year-on-year decrease of 46%, and a month-on-month increase of 16%; revenue from the visualization business was approximately $226 million, a year-on-year decrease of 65% and a quarter-on-quarter increase of 13%; revenue from the automotive business was $294 million, up 135% year-over-year and 94% quarter-on-quarter. In addition, Nvidia’s gross profit margin was 63.3%, a decrease of 2.1 percentage points from 65.4% in the same period last year, and an increase of 9.7 percentage points from 53.6% in the previous quarter.
In the fourth quarter of fiscal 2023, Nvidia returned $1.15 billion to shareholders through share repurchases and cash dividends, bringing its return for the fiscal year to $10.44 billion. NVIDIA will pay a quarterly cash dividend of $0.04 per share on March 29, 2023, to all shareholders of record on March 8, 2023.
Nvidia’s full-year revenue for the fiscal year 2023 is $26.97 billion, slightly higher than the $26.91 billion for the fiscal year 2022; profit was $4.368 billion, down 55% from $9.752 billion in the fiscal year 2022; game business revenue was $9.07 billion, down 27%; data Center business revenue hit a record $15.01 billion, up 41%; visualization revenue was $1.54 billion, down 27%; automotive revenues were a record $903 million, up 60%.
Looking forward to the first fiscal quarter of the fiscal year 2024, Nvidia expects revenue of $6.5 billion, plus or minus 2%, slightly higher than analysts’ expectations, and a gross profit margin of 64.1%, plus or minus 50 basis points. Nvidia’s stock price rose sharply after hours as the overall earnings report beat expectations.
