Nvidia reported full-year net revenue of $60.9 billion, up 126% from 2022.
Nvidia reported increased demand for generative artificial intelligence (AI) and accelerated computing in its latest earnings report on February 21.
"Accelerating computing and generating artificial intelligence has reached a tipping point, with demand surging across companies, industries and countries around the world," said Nvidia founder and CEO Jensen Huang.
Huang added that Nvidia RTX has become "the massive PC platform for generating AI" used by 100 million gamers and creators. He further described Nvidia's data center platform and its growth across various sectors, noting that usage in vertical industries now reaches multi-billion dollar levels.
Nvidia hits another record profit
Nvidia's fourth-quarter revenue hit a record high of $22.1 billion, a 265% increase from the previous year. Meanwhile, full-year revenue was $60.9 billion, up 126% from 2022.
The company's fourth-quarter net profit was $12.28 billion, a year-on-year increase of 769%, and full-year net profit was $29.76 billion, a year-on-year increase of 581%.
Diluted earnings per share for the year were $11.93, compared with $1.74 in the prior year.
Nvidia forecasts its revenue will hover around $24 billion, with a possible change of plus or minus 2%. The company's expected gross margin is 76.3% on a GAAP basis and 77.0% on a non-GAAP basis, which could vary by 50 basis points.
Despite a poor day, the positive earnings report sent NVDA shares soaring 56.88 points, or 8.43%, after the bell. At press time, NVDA was trading at $731 per share, although it closed the day at $674.72.
These positive results coincided with growth in the company's stock. Although NVDA stock price fell 19.80 points (2.85%) today, it rose 56.88 points (8.43%) after the bell
NVIDIA Data Center Division
A large portion of the company's annual revenue comes from its data center business, which has seen record growth over the past 12 months as artificial intelligence technology spreads around the world.
Nvidia's data center division reported record-breaking revenue in the fourth quarter, reaching $18.4 billion, a 27% quarter-on-quarter increase and a year-on-year increase of 409%, with annual revenue climbing to $47.5 billion.
This growth is driven by multiple strategic initiatives and partnerships, including with Google, Cisco, and Amazon Web Services, among others.
Nvidia partners with Google to enhance the AI platform, extending these optimizations to NVIDIA GPU accelerators and TensorFlow on Google Cloud.
In the data center sector, Nvidia also announced a new strategic partnership with Tatu Group to launch the world's first AI-based cloud data center platform, aiming to provide high-performance computing services to customers around the world.
In addition, Nvidia also announced a strategic cooperation with Microsoft to merge Nvidia's AI platform with Microsoft Azure to expand its influence in the data center field.
Huang Renxun said that Nvidia will continue to increase investment in its data center business to meet the growing needs of customers. Automotive chip business In addition to the data center business, Nvidia's automotive chip business has also made great progress.
Nvidia's automotive business reported revenue that grew from $3 billion last year to $6 billion this year, growing faster than the company's own expectations. The growth of the automotive business is mainly due to the popularity of autonomous driving technology and Nvidia's cooperative relationships with major automobile manufacturers.
Huang Jenxun added that Nvidia will continue to increase investment in the automotive chip business and promote the popularity of autonomous driving technology around the world.
Overall, Nvidia achieved solid performance and revenue growth throughout the year, demonstrating strong growth momentum. The company has achieved impressive results in AI technology, data center business and automotive chip business, demonstrating its leadership and innovation capabilities in the high-tech field. #Nvidia #内容挖矿
