NVIDIA Releases Impressive Financial Results for Q4 FY24
Record-Breaking Revenue and Profit
Fourth Quarter Highlights:
NVIDIA Corporation (NVDA) reported remarkable financial results for the fourth quarter of fiscal year 2024 (Q4 FY24), which ended on January 28, 2024, surpassing analyst expectations.
The company's revenue surged by an impressive 22% quarter-over-quarter, reaching a record high of $22.1 billion. This represented a remarkable 26.5% increase compared to the previous year.
Financial Performance:
NVIDIA's outstanding quarterly revenue outperformed its initial guidance of $20 billion. The company attributed this growth to a robust performance across all key segments, including gaming, data center, and professional visualization.
Gaming revenue, which accounts for a significant portion of NVIDIA's business, contributed $6.05 billion in Q4 FY24, a sequential increase of 16% and a significant 43% surge year-over-year. The growth was driven by strong demand for the company's latest GeForce RTX 40 series graphics cards.
Data center revenue reached $3.62 billion, representing a 10% quarterly increase and a substantial 11% growth compared to the same period last year. NVIDIA's focus on artificial intelligence (AI) and machine learning (ML) applications fueled this segment's growth.
Management Commentary:
NVIDIA's CEO, Jensen Huang, expressed his optimism about the company's future prospects in the face of ongoing macroeconomic challenges.
"Our record results this quarter reflect the strength of our technology, the breadth of our ecosystem, and the resilience of the long-term trends driving our business," Huang said.
NVIDIA's strong financial performance and positive outlook are expected to contribute to the company's continued success in the rapidly evolving technology landscape.
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