"The world’s $1 trillion of data centers is transitioning to accelerated computing and generative AI, which offers the most cost-effective solutions for growth."
— Jensen Huang
03Detailed Report
NVDA
NVIDIA Corporation
Period
Q2 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 14, 2026
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Executive Summary
In Q2 2024, NVIDIA Corporation (NVDA) delivered record revenue of $13.51 billion, marking a remarkable year-over-year increase of 101% and a quarter-over-quarter surge of 88%. This extraordinary performance is primarily fueled by the skyrocketing demand for AI-driven solutions, particularly in their Data Center segment, which reported revenue of $10.32 billion—up 171% year-over-year. Management reiterated that the transition to accelerated computing and generative AI is reshaping customer investments across industries, facilitating NVIDIA's strategic positioning as a cornerstone of this technological evolution. As NVIDIA expands production capabilities to meet demand, future revenue is anticipated to continue on this upward trajectory, translating into enhanced profitability and shareholder returns.
NVIDIA's Data Center revenue of $10.32 billion showcases its dominance in AI computing, up 171% from last year, driven by major cloud services firms. Gaming revenue grew to $2.49 billion, indicating solid demand recovery in the gaming market after a period of contraction.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
13.51B
101.48%
87.81%
Gross Profit
9.46B
224.60%
103.57%
Operating Income
6.80B
1 262.73%
217.76%
Net Income
6.19B
843.29%
202.89%
EPS
0.25
861.54%
201.20%
Key Financial Ratios
Gross Profit Margin
Excellent
70.10%
Gross profit margin is exceptional, indicating strong pricing power and operational efficiency
Operating Profit Margin
Excellent
50.30%
Operating margin is exceptional, indicating strong pricing power and operational efficiency
Net Profit Margin
Excellent
45.80%
Net profit margin is exceptional, indicating strong pricing power and operational efficiency
Return on Assets
Good
12.50%
Return on assets shows solid performance and effective asset utilization
Return on Equity
Strong
22.50%
Return on equity demonstrates excellent capital efficiency and value creation
Current Ratio
Strong
2.79
Current ratio indicates excellent liquidity and financial flexibility
Debt to Equity
Moderate
0.40
Debt-to-equity indicates balanced capital structure with manageable debt
P/E Ratio
High Growth
46.69x
Very high P/E indicates aggressive growth expectations, higher risk
Price to Book
High Premium
42.02x
Very high premium suggests asset-light business model or lofty expectations
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