NVIDIA (Nasdaq: NVDA) reported a 126 percent growth in full-year revenue to $60.9 billion for fiscal 2024 that ended January 28, while its quarterly revenue hit $22.1 billion, a 22 percent jump from the third quarter.
“Accelerated computing and generative AI have hit the tipping point,” Jensen Huang, founder and CEO of NVIDIA, said in a financial results statement published Wednesday. “Demand is surging worldwide across companies, industries and nations.”
For fiscal 2024, NVIDIA’s net income catapulted by 286 percent to $32 billion from the previous year’s $8 billion record. Operating income also showed massive growth from fiscal 2023, increasing by 311 percent to $37 billion.
GAAP earnings per diluted share was $11.93, a 586 percent hike from a year ago, while non-GAAP earnings per diluted share was $12.96, up 288 percent.
NVIDIA’s Data Center segment contributed $47.5 billion revenue in the full year, a 217 percent growth from the previous year.
“Our Data Center platform is powered by increasingly diverse drivers — demand for data processing, training and inference from large cloud-service providers and GPU-specialized ones, as well as from enterprise software and consumer internet companies,” said Huang.
Aside from detailing its financial results, NVIDIA also shared its outlook for the first quarter of fiscal 2025. The company expects its revenue to be $24 billion, plus or minus 2 percent, and GAAP and non-GAAP gross margins to be 76.3 percent and 77 percent, respectively, plus or minus 50 basis points.
