- Nvidia reported record quarterly and annual revenue.
- GAAP earnings per share also hit new highs, rising 33% quarterly and 586% annually.
- With generative AI gaining traction, Nvidia looks positioned to continue its high revenue growth.
Nvidia hits new milestone
Chipmaker Nvidia reported record quarterly and full-year revenue, fueled by surging demand for its graphics processing units used in generative AI applications.
The company posted $22.1 billion in revenue for the fourth quarter, ending January 29, a 22% sequential increase and a 265% jump year-over-year.
For the full 2024 fiscal year, Nvidia achieved its highest-ever annual revenue of $60.9 billion, up 126%.
A tipping point
“Accelerated computing and generative AI have hit a tipping point,” said CEO Jensen Huang, attributing the results to Nvidia’s focus on advancing these key technologies.
GAAP earnings per share also hit new highs, rising 33% quarterly to $4.93 and 586% annually to $11.93.
Looking ahead
Nvidia expects revenue of $24 billion for the first quarter of fiscal 2025.
It forecasts GAAP operating expenses of approximately $3.5 billion next quarter versus $3.2 billion in Q4 2024.
The strong financials highlight Nvidia’s dominance in AI chips and software.
Generative AI is gaining mainstream traction, and the company looks positioned to continue riding high revenue growth.
You can also read the original story in its entirety on https://www.techinasia.com/nvidia-achieves-record-revenue-demand-genai
