Strong Financial Performance

NVIDIA Reports Record Fourth Quarter and Fiscal 2024 Results

Strong Financial Performance

NVIDIA Corporation (NASDAQ: NVDA) announced record financial results for the fourth quarter and fiscal 2024, driven by continued strength in its gaming, data center, and professional visualization businesses. Fourth-quarter revenue reached $22.1 billion, a 22% increase from the previous quarter and a 26.5% surge year-over-year.

Data Center Momentum

Record-Breaking Revenue

The company's Data Center business achieved a record revenue of $18.4 billion in the fourth quarter, contributing significantly to the overall financial performance. This strong growth was driven by demand for NVIDIA's artificial intelligence (AI) and cloud computing solutions from major hyperscale cloud providers and enterprise customers.

Increased Profitability

NVIDIA's fourth-quarter net income jumped to $12.3 billion, representing a substantial 33% increase from the previous quarter and a remarkable 76.9% increase year-over-year. This growth was fueled by the company's efficient cost management and the increasing profitability of its data center and gaming segments.

Key Achievements

Since its previous earnings announcement, NVIDIA has made significant progress in several key areas:

• H100 AI Superchip: NVIDIA unveiled the revolutionary H100 AI superchip, which is designed to power the next generation of AI and high-performance computing workloads.
• Omniverse Platform: The company announced major advancements in its Omniverse platform, a virtual world simulation platform that enables collaboration and real-time 3D experiences.
• Omniverse Avatar SDK: NVIDIA introduced the Omniverse Avatar SDK, which provides developers with the tools and resources to create AI-powered, interactive avatars.

Conclusion

NVIDIA's exceptional fourth quarter and fiscal 2024 results underscore the company's continued dominance in the rapidly growing markets for AI, data center, and gaming. With its strong financial position, innovative products, and a commitment to technological advancement, NVIDIA is well-positioned to maintain its leadership and drive innovation in the tech industry for years to come.