NVIDIA has recently announced its financial results for the fourth quarter and fiscal year 2024, showcasing the company's remarkable growth and the increasing demand for its offerings. The company reported record quarterly revenue of $22.1 billion, up 22% from the previous quarter and an impressive 265% from the same period last year.
For the fourth quarter, NVIDIA's GAAP earnings per diluted share reached $4.93, a 33% increase from the previous quarter and a staggering 765% increase from the prior year. Non-GAAP earnings per diluted share also saw significant growth, reaching $5.16, up 28% from the previous quarter and 486% from a year ago. These figures demonstrate the company's strong financial performance and its ability to capitalise on the growing demand for its products and services.
Fiscal 2024 also marked a milestone for NVIDIA, with revenue increasing by 126% to a record $60.9 billion. GAAP earnings per diluted share rose by 586% from the previous year, while non-GAAP earnings per diluted share increased by 288%. This exceptional growth underscores the company's leadership position in the accelerated computing and AI industries.
The company's collaboration with industry leaders, such as Google, Amazon Web Services, Amgen, Singtel, and Cisco, has helped drive the adoption of its technologies across various sectors.
As Jensen Huang, founder and CEO of NVIDIA, stated, "The year ahead will bring major new product cycles with exceptional innovations to help propel our industry forward."