NVIDIA Reports Strong Q4 Earnings, Driven by Data Center Growth

Key Highlights

• Q4 net income surged 33% from Q3 and 76.9% year-over-year to $12.3 billion.
• Record quarterly Data Center revenue of $18.4 billion, up 27% from Q3 and 40.9% year-over-year.
• Full-year revenue reached a record $60.9 billion, a 12.6% increase year-over-year.
• Adjusted earnings per share (EPS) for the quarter were $0.516, exceeding analysts' expectations of $0.460.

Santa Clara, California - February 21, 2024 - NVIDIA Corporation (NASDAQ: NVDA) today announced its financial results for the fourth quarter and fiscal year ended January 28, 2024. The company reported strong revenue growth driven by continued demand for its data center products.

Data Center revenue reached a record $18.4 billion for the quarter, a 27% increase from the previous quarter and a 40.9% increase from the same period last year. This growth was primarily driven by strong demand for NVIDIA's artificial intelligence (AI) and high-performance computing (HPC) products.

Gaming revenue declined slightly during the quarter, reflecting seasonal trends in the industry. However, the company's total revenue for the full year reached $60.9 billion, a 12.6% increase from the previous year, driven by strong performance in its Data Center and other business segments.

NVIDIA's net income for the quarter jumped 33% from the previous quarter and 76.9% year-over-year to $12.3 billion. Adjusted EPS for the quarter was $0.516, exceeding analysts' expectations of $0.460.

"We had a strong finish to the fiscal year with record revenue and earnings," said Jensen Huang, NVIDIA's founder, and CEO. "Our Data Center business continues to grow rapidly, driven by strong demand for AI and HPC applications. We are also seeing growing momentum in our automotive and healthcare businesses."