visimoney
TLDR:
- NVIDIA reported record quarterly revenue of $22.1 billion, up 22% from the previous quarter and 265% from a year ago.
- The company’s Data Center platform saw a significant revenue increase and NVIDIA announced major product cycles with innovative offerings.
NVIDIA announced financial results for the fourth quarter and fiscal 2024, showcasing a record quarterly revenue of $22.1 billion, marking a 22% increase from the previous quarter and a remarkable 265% increase from a year ago. The Data Center platform achieved record revenue of $18.4 billion, reflecting a 27% growth from the previous quarter and a 409% surge from a year ago. The company’s full-year revenue soared by 126% to $60.9 billion, with GAAP earnings per diluted share reaching $11.93, representing a 586% increase from a year ago.
NVIDIA’s CEO, Jensen Huang, emphasized the surge in demand for accelerated computing and generative AI on a global scale, driving growth across various industries. The company’s Data Center platform saw substantial growth driven by demand from cloud service providers, enterprise software companies, and more. The NVIDIA RTX platform, catering to gamers and creators, has enjoyed immense success over the years. Looking ahead, NVIDIA plans major new product cycles with innovative offerings to propel the industry forward.
Other highlights include NVIDIA’s collaborations with industry giants such as Google, Amazon Web Services, Amgen, and Singtel, among others. The company introduced new AI capabilities and services to enhance its product offerings and support various verticals including automotive, financial services, and healthcare. NVIDIA’s financial outlook for the first quarter of fiscal 2025 projects revenue of $24.0 billion, further solidifying its position in the market.
