NVIDIA Reports Record-Breaking Revenue and Net Income for Fiscal Year 2024
NVIDIA Corporation, the global leader in visual computing and artificial intelligence, has announced its financial results for the fiscal year ended January 28, 2024, showcasing remarkable growth and record-breaking performance across key metrics.
According to data sourced from the company’s SEC Filing (10-K) dated February 21, 2024, NVIDIA reported a staggering revenue of $60.9 billion for fiscal year 2024, marking a substantial increase from $27 billion in the previous fiscal year. This impressive surge in revenue underscores NVIDIA’s unwavering momentum and dominance in the highly competitive technology industry.
The company’s gross profit also witnessed a significant uptick, reaching $44.3 billion for fiscal year 2024, compared to $15.4 billion in the prior fiscal year. This notable expansion in gross profit reflects NVIDIA’s continued focus on innovation and efficiency in its operations.
Operating income soared to $33.0 billion for fiscal year 2024, a substantial leap from $4.2 billion in the previous fiscal year. This remarkable growth in operating income highlights NVIDIA’s robust financial performance and effective management of operating expenses.
Furthermore, net income for fiscal year 2024 surged to an impressive $29.8 billion, compared to $4.4 billion in the prior fiscal year. This substantial increase in net income underscores NVIDIA’s ability to translate its strong revenue growth into bottom-line profitability, delivering significant value to its shareholders.
NVIDIA’s earnings per share (EPS) also experienced substantial growth, with basic EPS reaching $12.05 and diluted EPS reaching $11.93 for fiscal year 2024, compared to $1.76 and $1.74, respectively, in the previous fiscal year. This notable improvement in EPS underscores NVIDIA’s commitment to delivering value to its shareholders through earnings growth.
With weighted average shares used in per share computation remaining relatively stable, NVIDIA’s impressive financial performance for fiscal year 2024 reflects the company’s continued focus on driving innovation, expanding its market reach, and delivering superior shareholder value.
As NVIDIA continues to pioneer advancements in visual computing, artificial intelligence, and high-performance computing, investors and industry analysts remain optimistic about the company’s growth prospects and its ability to maintain its position as a leader in the rapidly evolving technology landscape.
Disclaimer:
The information in this article is sourced from NVIDIA Corporation’s SEC filing (10-K) dated February 21, 2024. While efforts have been made to ensure accuracy, readers are advised to verify information independently. The author and publisher do not guarantee the completeness, accuracy, or reliability of the data and disclaim any liability for losses or damages arising from its use. Readers should consult with financial professionals before making investment decisions based on this information.
