Summary
NVIDIA Corporation (NVDA) delivered an exceptional fiscal year 2024, marked by a staggering 126% increase in revenue to $60.9 billion, primarily driven by a 217% surge in its Data Center segment. This growth is largely attributed to the insatiable demand for AI infrastructure, particularly for training and inference of large language models (LLMs) and generative AI applications. The company's full-stack computing platform, encompassing GPUs, networking, and software, has solidified its dominant position in the AI revolution. While the Data Center segment is the clear growth engine, the Graphics segment also demonstrated resilience, growing 15%. The company continues to invest heavily in research and development to maintain its technological leadership across all its markets, including Gaming, Professional Visualization, and Automotive. Despite facing geopolitical and supply chain complexities, including U.S. export controls impacting sales to China, NVIDIA has demonstrated robust demand and a strong ability to navigate these challenges. The company's substantial cash generation and ongoing share repurchase program further underscore its financial strength and commitment to shareholder returns.
Financial Highlights
56 data points| Revenue | $60.92B |
| Cost of Revenue | $16.62B |
| Gross Profit | $44.30B |
| R&D Expenses | $8.68B |
| SG&A Expenses | $2.65B |
| Operating Expenses | $11.33B |
| Operating Income | $32.97B |
| Interest Expense | $257.00M |
| Net Income | $29.76B |
| EPS (Basic) | $1.21 |
| EPS (Diluted) | $1.19 |
| Shares Outstanding (Basic) | 24.69B |
| Shares Outstanding (Diluted) | 24.94B |
Key Highlights
- 1Exceptional revenue growth of 126% year-over-year, reaching $60.9 billion for fiscal year 2024.
- 2Data Center segment revenue surged by 217% year-over-year, reaching $47.5 billion, primarily fueled by AI demand.
- 3Gross margin improved significantly to 72.7% from 56.9% in the prior year, driven by strong Data Center performance and lower inventory provisions.
- 4Net income saw an impressive 581% increase, reaching $29.76 billion, with diluted EPS growing 586% to $11.93.
- 5The company repurchased $9.7 billion of its common stock in fiscal year 2024 under an expanded share repurchase program, signaling strong confidence and commitment to shareholder returns.
- 6NVIDIA is actively managing supply chain complexities and U.S. export control regulations, particularly concerning China, while expanding its product portfolio to offer licensed alternatives.
- 7Significant ongoing investment in R&D, with over half of engineers focused on software, highlighting a commitment to innovation in AI and accelerated computing.