NVIDIA Corporation delivered an astounding performance in fiscal year 2024, shattering previous records and highlighting its dominant position in the semiconductor industry, particularly in areas like AI, gaming, professional visualization, and automotive.
Financial Highlights
Revenue Surge: NVIDIA reported a staggering revenue of $60.9 billion for the fiscal year 2024, marking a 126% increase from the previous year. This growth was propelled by significant achievements across all business segments, with a special highlight on data center revenue which reached $47.5 billion, showcasing a 217% increase (NVIDIA Investor Relations).
Profit Growth: The company's net income experienced a monumental rise, reaching $32.3 billion, a 286% increase year-over-year. Diluted earnings per share (EPS) also saw a substantial jump to $12.96, up 288% from the previous fiscal year (NVIDIA Investor Relations).
Q4 Performance: The fourth quarter alone brought in $22.1 billion in revenue, a 265% increase from the same period a year ago. Q4 net income skyrocketed to $12.3 billion, with GAAP diluted EPS at $4.93 (Yahoo Finance).
Dividends: Reflecting confidence in its financial health and commitment to returning value to shareholders, NVIDIA announced a quarterly cash dividend of $0.04 per share, payable in March 2024 (Yahoo Finance).
Business Segment Growth and Future Projections
Data Center Dominance: The data center segment, a critical driver of NVIDIA's growth, saw fourth-quarter revenue of $18.4 billion, underscoring the company's leadership in AI and computing technologies (NVIDIA Investor Relations).
Gaming and Visualization: In the gaming sector, NVIDIA introduced GeForce RTX™ 40 SUPER Series GPUs and announced generative AI capabilities for an installed base of over 100 million RTX AI PCs. Professional visualization revenue also saw impressive growth, with the adoption of NVIDIA Omniverse™ by the global automotive-configurator ecosystem (NVIDIA Investor Relations).
Automotive Innovations: The automotive sector continued to grow with further adoption of the NVIDIA DRIVE® platform by major automakers, showcasing NVIDIA's contributions to intelligent automated-driving systems (NVIDIA Investor Relations).
Looking Ahead
For fiscal Q1 2025, NVIDIA anticipates revenue to be around $24.0 billion, with both GAAP and non-GAAP gross margins expected to be around 76.3% and 77.0%, respectively. The outlook remains optimistic, with NVIDIA positioned to continue leading advancements in AI, gaming, and cloud computing (NVIDIA Investor Relations).
Conclusion
NVIDIA's fiscal year 2024 was remarkable not only in terms of financial performance but also in its strategic advancements and innovations across various sectors. The company's focus on AI, gaming, professional visualization, and automotive sectors, combined with its ambitious plans for the future, signal continued growth and leadership in the semiconductor and AI industries. As NVIDIA navigates the challenges and opportunities ahead, it remains a key player to watch in the evolving tech landscape.
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