NVIDIA, a leading name in the technology industry, has recently unveiled its stellar financial results for the fourth quarter of the fiscal year, showcasing remarkable growth amidst the ongoing AI boom. With revenue soaring to an impressive $22.1 billion in the fourth quarter alone, marking a significant 22% increase from the previous quarter and a staggering 265% surge compared to the same period a year ago, their performance underscores its pivotal role in driving innovation in the AI industry.
NVIDIA’s Exceptional Financial Performance
The company’s Earnings Per Share (EPS) witnessed a substantial uptick, with GAAP EPS reaching $4.93, up by 33% from the previous quarter, and a remarkable 765% surge from the corresponding quarter last year.
Similarly, non-GAAP EPS stood at $5.16, reflecting a robust 28% increase from the previous quarter and an extraordinary 486% surge from a year ago. These figures highlight the company’s exceptional financial performance and its ability to deliver substantial returns to its shareholders, earning their place in our list of top AI stocks to buy in 2024.
Yearly Success and Outlook
Looking beyond individual quarters, NVIDIA’s fiscal year 2024 results further reinforce its position as a powerhouse in the technology industry. The company reported a staggering revenue of $60.9 billion for the fiscal year, marking an impressive 126% increase from the previous year. This unprecedented growth underscores the company’s relentless commitment to driving innovation and its ability to capitalise on emerging opportunities in the rapidly evolving tech landscape.
In terms of earnings, NVIDIA’s GAAP EPS for fiscal year 2024 soared to $11.93, reflecting a remarkable 586% increase from the previous year. Similarly, non-GAAP EPS reached $12.96, demonstrating a substantial 288% surge from the previous year. These figures not only highlight their stellar financial performance but also its ability to consistently deliver value to its stakeholders, despite the mishap they had with Valeo.
Looking ahead, the company’s outlook for the first quarter of fiscal 2025 remains optimistic, with the company expecting revenue to reach $24.0 billion, plus or minus 2%. Additionally, GAAP and non-GAAP gross margins are expected to be 76.3% and 77.0%, respectively, further highlighting the company’s confidence in its ability to sustain its growth trajectory ever since the company’s 2023 earnings.
Business Segment Highlights
Delving deeper into NVIDIA’s business segments, the data centre segment emerged as a key driver of growth, with record revenue of $18.4 billion in Q4 2024, representing a remarkable 27% increase from the previous quarter and an exceptional 409% surge from a year ago.
This segment’s full-year revenue also witnessed a staggering 217% rise, reaching a record $47.5 billion. NVIDIA’s strategic collaborations and expansions in the data centre segment, including partnerships with tech giants like Google and AWS, underscore its commitment to driving innovation and meeting the evolving needs of its customers.
In the gaming segment, NVIDIA reported revenue of $2.9 billion in Q4 2024, maintaining its momentum from the previous quarter and witnessing a significant 56% increase from a year ago. Milestones such as the adoption of NVIDIA DLSS in over 500 AI-powered RTX games highlight the segment’s continued growth and its importance in their overall business strategy.
The professional visualisation segment also witnessed notable growth, with revenue reaching $463 million in Q4 2024, up by 11% from the previous quarter and a remarkable 105% surge from a year ago. The adoption of NVIDIA Omniverse™ by the global automotive-configurator ecosystem underscores the segment’s potential to drive innovation across diverse industries.
Similarly, the automotive segment reported revenue of $281 million in Q4 2024, representing an 8% increase from the previous quarter. Despite a slight decline from a year ago, the segment’s continued adoption of the NVIDIA DRIVE® platform by automotive companies highlights its long-term growth prospects and its role in shaping the future of transportation.
Strategic Collaborations and Innovations
In addition to its financial success, NVIDIA has been actively collaborating with tech giants like Google to further enhance AI capabilities. One notable collaboration between NVIDIA and Google involves the optimisation of their AI platforms for Gemma, Google’s state-of-the-art open language models.
Leveraging NVIDIA’s TensorRT-LLM (Large Language Model) library, Gemma’s performance on NVIDIA GPUs has been significantly accelerated, enabling developers to harness the power of AI for a wide range of applications. This collaboration highlights the synergistic efforts between NVIDIA and Google to push the boundaries of AI innovation and empower developers with cutting-edge tools and technologies.
Our Final Say: NVIDIA Is Shaping the Future of Technology
With robust financial performance, strategic partnerships, and a relentless focus on delivering value to its customers, the company is well-positioned to capitalise on emerging opportunities and shape the future of technology, as predicted by NVIDIA CEO Jensen Huang when he mentioned AI will be ‘Fairly Competitive’ with humans.
As the AI boom continues to gather momentum, the company’s contributions will continue to be instrumental in unlocking new possibilities and driving progress in the realm of artificial intelligence. We will keep you updated here at player.me about NVIDIA’s visionary leadership, groundbreaking technologies, and unwavering commitment to excellence, as they lead the way in shaping the future of technology.
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