NVIDIA reported $22.1 billion in revenue for the fourth quarter ended January 28, 2024, up 22 percent from the previous quarter and up 265 percent from a year ago.
For fiscal 2024, revenue was up 126 percent to $60.9 billion.
Net income for the quarter stood at $12.29 billion, up 33 percent from the previous quarter and 769 percent from the year-ago period.
Read: Nvidia surpasses Alphabet, becomes 3rd most valuable U.S. company
“Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations,” Jensen Huang, founder and CEO of NVIDIA, said.
NVIDIA 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.
“Our Data Center platform is powered by increasingly diverse drivers — demand for data processing, training and inference from large cloud-service providers and GPU-specialized ones, as well as from enterprise software and consumer internet companies. Vertical industries — led by auto, financial services and healthcare — are now at a multibillion-dollar level,” he added.
Outlook for 2025
For the first quarter of fiscal 2025, NVIDIA expects revenue at $24 billion, plus or minus 2 percent.
Data center
Fourth-quarter revenue for the division was a record $18.4 billion, up 27 percent from the previous quarter and up 409 percent from a year ago. Full-year revenue rose 217 percent to a record $47.5 billion.
Gaming
The gaming division saw fourth-quarter revenue at $2.9 billion, flat from the previous quarter and up 56 percent from a year ago. Full-year revenue rose 15 percent to $10.4 billion.
“NVIDIA RTX, introduced less than six years ago, is now a massive PC platform for generative AI, enjoyed by 100 million gamers and creators. The year ahead will bring major new product cycles with exceptional innovations to help propel our industry forward,” the CEO said.
The professional visualization division reported fourth-quarter revenue at $463 million (up 11 percent q-o-q and up 105 percent y-o-y). Full-year revenue rose 1 percent to $1.6 billion.
The automotive unit saw $281 million in fourth-quarter revenue, up 8 percent q-o-q and down 4 percent y-o-y. Full-year revenue rose 21 percent to $1.1 billion.
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