NVIDIA Q4 and Fiscal 2024 Highlights (news release Feb 21)

February 21, 2024

Following the earnings news release, traders are showing the love for NVIDIA. The after-hours price is now up +6.4% to $717.25

Q4 2024:

Achieved a record quarterly revenue of $22.1 billion, marking a 22% increase QoQ and a 265% increase YoY.
Data Center revenue hit a record $18.4 billion, up 27% QoQ and 409% YoY.
GAAP earnings per diluted share were $4.93, up 33% QoQ and 765% YoY.
Non-GAAP earnings per diluted share were $5.16, up 28% QoQ and 486% YoY.

Fiscal 2024:

Posted a record full-year revenue of $60.9 billion, up 126% from the previous fiscal year.
GAAP earnings per diluted share were $11.93, up 586% from the previous fiscal year.
Non-GAAP earnings per diluted share were $12.96, up 288% from the previous fiscal year.

Outlook for Q1 Fiscal 2025:

Expected revenue is $24.0 billion (plus or minus 2%).
Expected GAAP and non-GAAP gross margins are 76.3% and 77.0%, respectively.
Expected GAAP and non-GAAP operating expenses are approximately $3.5 billion and $2.5 billion, respectively.
Expected GAAP and non-GAAP tax rates are 17.0%, plus or minus 1%.

Operational Highlights:

Gaming revenue was $2.9 billion, flat QoQ but up 56% YoY.
Professional Visualization revenue was $463 million, up 11% QoQ and 105% YoY.
Automotive revenue was $281 million, up 8% QoQ but down 4% YoY.

Company Statements:

NVIDIA is at the tipping point of accelerated computing and generative AI.
Demand is surging globally across industries.
One hundred million gamers and creators enjoy the NVIDIA RTX platform for generative AI.
The outlook for the year includes major product cycles and innovations.
A quarterly cash dividend of $0.04 per share will be paid on March 27, 2024.