NVIDIA's annual sales hit a record high of over $60 billion, announced in fiscal year 2024 financial results announcement
NVIDIA, a major semiconductor manufacturer, has announced financial results for the fourth quarter (November to January 2023) and full year of the 2024 fiscal year. Quarterly sales were strong at $22.1 billion (approximately 3.32 trillion yen), an increase of 265% from the previous year. Full-year sales also increased 126% from the previous year to $60.9 billion (approximately 9.16 trillion yen), a record high.
NVIDIA Announces Financial Results for Fourth Quarter and Fiscal 2024 | NVIDIA Newsroom
Nvidia (NVDA) earnings report Q4 2024
According to NVIDIA's financial results announcement for the fourth quarter of 2024 (November 2023 to January 2024) and fiscal year 2024, quarterly revenue was $22.1 billion, an increase of 22% from the previous quarter. This is a 265% increase compared to the previous year. The driving force behind this was the need for expensive NVIDIA server GPUs to develop large-scale AI models.
The data center division was also positively affected, with quarterly revenue increasing 27% year on year and 409% year on year to $18.4 billion (approximately 2.77 trillion yen).
NVIDIA's full-year sales for fiscal year 2024 are $60.9 billion, an increase of 126% from the previous year, a record high.
A dividend of $0.04 (approximately 6 yen) per share is scheduled to be paid on March 27, 2024 to shareholders as of March 6, 2024.
CEO Jensen Huang issued the following statement.
“High-speed computing and generative AI have reached a tipping point. Demand is exploding across companies, industries, and nations around the world.”
'NVIDIA's data center platform is supported by increasingly diverse drivers, including demand for data processing, training, and inference from large cloud service providers, GPU-only providers, enterprise software and consumer Internet companies, and Vertical industries centered on automobiles, financial services, and healthcare are now worth billions of dollars (hundreds of billions of yen).”
“Introduced six years ago, NVIDIA's RTX series is now a massive platform for generative AI used by 100 million gamers and creators. 'It's a big new product cycle of innovation, and at NVIDIA GTC 2024 in March 2024, we'll unveil the exciting future of NVIDIA's rich ecosystem. We hope you'll join us.'
Sales for the first quarter of 2025 are expected to be $24 billion (approximately 3.61 trillion yen) ± 2%.
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