NVIDIA Announces Record Quarterly Revenue of $22.1 billion
NVIDIA Corporation (NASDAQ: NVDA) reported its financial results for the fourth quarter and fiscal year 2024 in an earnings call on February 21, 2024. The company announced record quarterly revenue of $22.1 billion, representing a 22% increase from the previous quarter and a remarkable 265% increase from the previous year. Additionally, for fiscal 2024, the company achieved a total revenue of $60.9 billion, marking a substantial 126% increase from the prior year.
Key Financial Metrics
- GAAP earnings per diluted share for the quarter was $4.93, reflecting a 33% increase from the previous quarter and an impressive 765% increase from a year ago.
- Non-GAAP earnings per diluted share for the quarter came in at $5.16, showing a 28% increase from the previous quarter and a remarkable 486% increase from a year ago.
- For fiscal 2024, GAAP earnings per diluted share stood at $11.93, representing a substantial 586% increase from a year ago, while non-GAAP earnings per diluted share were $12.96, indicating a significant 288% increase from a year ago.
Conference Call Participants
The earnings call featured prominent participants from NVIDIA, including Simona Jankowski (VP, IR), Colette Kress (EVP & CFO), and Jensen Huang (President & CEO). The call also hosted financial analysts and institutional investors who engaged in a question-and-answer session following NVIDIA's prepared remarks.
Remarkable Performance in Data Center
The earnings call highlighted the outstanding performance in the data center segment, with record quarterly data center revenue of $18.4 billion, up 27% from the previous quarter and a remarkable 409% increase from a year ago. This achievement further underscores NVIDIA's strong position in the data center market.
Forward-Looking Statements and Non-GAAP Financial Measures
As part of the conference call, NVIDIA made forward-looking statements based on current expectations while also providing guidance on non-GAAP financial measures. The company emphasized that its forward-looking statements are subject to significant risks and uncertainties, and the actual results may differ materially. Detailed reconciliations of these non-GAAP financial measures to GAAP financial measures were provided in the CFO commentary, which is available on the company's website.
Overall, NVIDIA's earnings call highlighted the company's exceptional financial performance, particularly in the data center segment, and provided valuable insights into its future outlook and strategic initiatives.
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