NVIDIA Corporation Announces Record Quarterly Earnings

Fourth Quarter 2023 Financial Results

NVIDIA Corporation (NASDAQ: NVDA) today reported financial results for the fourth quarter and fiscal year ended January 28, 2024. The company reported record quarterly revenue of $22.1 billion, up 27% from the previous quarter and 40.9% year-over-year. Net income for the quarter jumped to $12.3 billion, a 33% increase from the previous quarter and a 76.9% increase year-over-year.

Key Highlights

* Adjusted earnings per share (EPS) of $5.16, beating analysts' expectations of $4.60 * Record quarterly Data Center revenue of $18.4 billion, up 126% year-over-year * Record full-year revenue of $60.9 billion, up 12.6% year-over-year

Management Commentary

"Q4 was a great end to our fiscal 2023, with record revenue," said Jensen Huang, founder and CEO of NVIDIA. "Our Data Center business continues to grow rapidly, driven by demand from cloud computing, AI, and high-performance computing applications. We are also seeing strong demand for our gaming and automotive products."

Outlook

For the first quarter of fiscal 2024, NVIDIA expects revenue to be approximately $22.5 billion, plus or minus 2%. The company also expects adjusted EPS to be approximately $5.50, plus or minus 5%.