NVIDIA, the GPU giant, has released its financial report for the fourth quarter of the 2024 fiscal year. The report reveals impressive performance growth, with quarterly revenue reaching $22.1 billion, a 265% increase compared to the same period last year. This exceeded analysts' expectations of $20.41 billion and led to a significant after-hours surge in stock prices, rising over 9%.
The financial report indicates that the GAAP earnings per share for the fourth quarter of the 2024 fiscal year were $4.93, representing a remarkable 765% year-on-year growth. Non-GAAP earnings per share stood at $5.16, a growth of 486% compared to the same period last year.
In cumulative figures, NVIDIA's revenue for the entire fiscal year 2024 amounted to $60.9 billion, reflecting a substantial 126% increase from the previous year. GAAP earnings per share for the fiscal year were $11.93, marking a growth of 586% compared to the previous year. Non-GAAP earnings per share reached $12.96, representing a growth of 288%.
NVIDIA also provided a revenue projection for the first quarter of the 2025 fiscal year, anticipating a growth of nearly 10% with estimated revenue of $24 billion.
Jensen Huang, CEO of NVIDIA, stated that accelerated computing and generative AI have reached a turning point, with increasing global demand across various industries, companies, and countries. NVIDIA's data center platform continues to receive strong support from diverse drivers, including major cloud computing service providers, GPU manufacturers, enterprise software, and consumer internet companies. Huang emphasized the success of NVIDIA's products in the PC platform market, particularly the NVIDIA RTX series, which has gained significant traction among gamers and creators. He expressed confidence in delivering significant new product cycles and driving innovation in the coming year to propel the industry forward.
Furthermore, NVIDIA announced its GTC 2024 conference, to be held from March 18th to 21st at the San Jose Convention Center in the United States. During the event, Jensen Huang will unveil the latest breakthroughs in accelerated computing, generative AI, and robotics. The conference is expected to attract over 300,000 attendees either in-person or through online registration.
Following the release of NVIDIA's financial report for the fourth quarter of the 2024 fiscal year, the company's stock price surged by 9.07% in after-hours trading. Moreover, NVIDIA's positive performance also had a favorable impact on its major partner, TSMC, as its stock price turned from negative to positive, opening at a high of NT$695 per share, reflecting a 2% increase.
