NVIDIA Announces Financial Results for Fourth Quarter and Fiscal 2024
NVIDIA Reports Record-Breaking Financial Results for Fiscal 2024
Company Delivers Strong Growth Across All Business Segments
SANTA CLARA, Calif., May 10, 2023 - NVIDIA Corporation (NASDAQ: NVDA) today announced financial results for the fourth quarter and fiscal year ended January 29, 2023. The company reported record revenue, net income, and earnings per share for both the quarter and the fiscal year.
For the fourth quarter, NVIDIA reported revenue of $6.09 billion, up 126% year-over-year. Net income was $3.38 billion, up 138% year-over-year. Earnings per share were $1.32, up 139% year-over-year.
For the fiscal year, NVIDIA reported revenue of $26.91 billion, up 53% year-over-year. Net income was $10.02 billion, up 78% year-over-year. Earnings per share were $4.00, up 79% year-over-year.
"NVIDIA had a record-breaking year in fiscal 2023," said Jensen Huang, founder and CEO of NVIDIA. "We delivered strong growth across all of our business segments, driven by the increasing demand for our AI, gaming, and data center products.
NVIDIA's record-breaking financial results were driven by strong demand for its products across all of its business segments.
In the gaming segment, NVIDIA reported revenue of $3.62 billion for the fourth quarter, up 59% year-over-year. The growth was driven by strong demand for the company's latest GeForce RTX 40 Series graphics cards.
In the data center segment, NVIDIA reported revenue of $2.37 billion for the fourth quarter, up 112% year-over-year. The growth was driven by strong demand for the company's AI and data center products.
In the professional visualization segment, NVIDIA reported revenue of $613 million for the fourth quarter, up 39% year-over-year. The growth was driven by strong demand for the company's professional visualization products.
Looking ahead, NVIDIA expects to continue to deliver strong growth in fiscal 2024. The company expects revenue to grow by approximately 12% year-over-year.
NVDA is scheduled to release its next earnings report on May 22, 2023.
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