NVIDIA Earnings: Another Beat Delivered
Investor-favorite NVIDIA NVDA has just unveiled Q4 and fiscal year 2024 results, undoubtedly representing the most highly-awaited release of the current earnings cycle.
The release has wrapped up the Q4 reporting cycle for the ‘Mag 7’, whose performance as a group has been remarkable amid the AI frenzy.
Let’s take a quick look at what the titan delivered.
NVIDIA Q4
The company delivered Q4 revenue of a record $22.1 billion, up 27% sequentially and a sizable 409% on a year-over-year basis. Non-GAAP EPS totaled $5.16, climbing 28% sequentially and 485% from the year-ago period.
Both items exceeded our consensus earnings and revenue expectations, penciling in beats of 13% and 8%, respectively.
Data Center
Of course, Data Center was the real highlight of the release, which included sales of its AI chips. NVIDIA’s Data Center raked in $18.4 billion (yet again, another quarterly record) throughout the period, up an astonishing 410% on a year-over-year stack.
Jensen Huang, CEO, on the results: “Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations,”.
Gaming
Gaming revenue growth was also robust, with quarterly revenue of $2.9 billion 56% higher year-over-year. It’s also worth noting that the company launched its GeForce RTX 40 SUPER Series GPUs throughout the period, with generative AI capabilities for over 100 million RTX AI PCs also announced.
NVIDIA FY24
Concerning FY24, record full-year revenue of $60.9 billion climbed 126% year-over-year, whereas non-GAAP EPS of $12.96 showed nearly 290% growth from FY23. Needless to say, the company enjoyed a fantastic FY24, and the share performance has reflected that vividly, up 250% over the last year.
FY24 Data Center sales surged 217% to a record $47.5 billion, whereas full-year Gaming revenue climbed 15% to $10.4 billion.
Bottom Line
Another robust quarter from NVIDIA NVDA has hit the tape, with scorching-hot Data Center demand and an improving gaming industry providing meaningful tailwinds. The company provided guidance for its 2025 Q1, expecting revenue of roughly $24.0 billion.
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