NVIDIA Reports Record-Breaking Revenue and Profit Driven by AI Demand
NVIDIA achieves unprecedented financial growth in Q4 and fiscal 2024, with annual revenue surpassing $60 billion. The chipmaker's data center segment leads the massive surge in earnings and profit margins.
NVIDIA reports record-breaking financial results for its fourth quarter and full fiscal year, driven by massive demand for its AI and data center products. The tech giant achieves $22.1 billion in quarterly revenue, which marks a 265% surge from the same period last year. For the full fiscal year, total revenue soars by 126% to reach $60.9 billion.
The company's data center segment fuels this extraordinary growth, generating a record $18.4 billion in Q4 revenue alone. This represents a staggering 409% year-over-year increase and highlights the critical role NVIDIA chips play in global AI infrastructure. Additionally, the firm's gross margin improves to 76.0% in the fourth quarter, showing that this rapid sales expansion remains highly profitable.
Net income for the quarter jumps to $12.3 billion, translating to a diluted earnings per share of $4.93 on a GAAP basis. These earnings reflect a 765% increase compared to the previous year. Alongside these historic profits, NVIDIA announces a quarterly cash dividend of $0.04 per share, payable to shareholders in late March.