NVIDIA Corporation (NVDA) Q3 2024: Nvda

Next: Q2 2025

NVIDIA Corporation

NVDA

$182.41 -0.53%

Exchange: NASDAQ | Sector: Technology | Industry: Semiconductors

Q3 2024

Published: Nov 21, 2023

Earnings Highlights

Revenue of $18.12B up 205.5% year-over-year
EPS of $0.37 increased by 1% from previous year
Gross margin of 74.0%
Net income of 9.24B
""Our Data Center compute revenue quadrupled from last year and networking revenue nearly tripled" - Colette Kress" - Colette Kress

NVDA

NVIDIA Corporation

Period Q3 2024

Currency USD

Report Type Quarterly Earnings

Generated Dec 8, 2025

Executive Summary

In Q3 2024, NVIDIA Corporation achieved record revenue of $18.1 billion, reflecting an exceptional 34% increase sequentially and a staggering 205% year-on-year growth. This remarkable performance was largely driven by the Data Center segment, which generated $14.5 billion in revenue—up 41% from the previous quarter and 279% year-on-year. The ongoing adoption of generative AI applications and strong demand from consumer internet companies and enterprises significantly fueled growth. Management noted that NVIDIA is well-positioned to capitalize on accelerating AI infrastructure investments both domestically and globally. Notably, gross margins expanded to 74% supported by high-performing products and efficiencies in operations.

Key Performance Indicators

Revenue

Increasing

18.12B

QoQ: 34.15% | YoY: 205.51%

Gross Profit

Increasing

13.40B

73.95% margin

QoQ: 41.62% | YoY: 321.78%

Operating Income

Increasing

10.42B

QoQ: 53.19% | YoY: 1 633.28%

Net Income

Increasing

9.24B

QoQ: 49.37% | YoY: 1 259.26%

EPS

Increasing

0.38

QoQ: 52.00% | YoY: 1 307.41%

Revenue Trend

Margin Analysis

Financial Highlights

1. Revenue and Growth: $18.1 billion revenue (YoY: +205.51%, QoQ: +34.15%).
2. Gross Profit: $13.4 billion (YoY: +321.78%, QoQ: +41.62%).
3. Operating Income: $10.4 billion (YoY: +1,633.28%, QoQ: +53.19%).
4. Net Income: $9.24 billion (YoY: +1,259.26%, QoQ: +49.37%).
5. Earnings Per Share (EPS): $0.38 (YoY: +1,307.41%, QoQ: +52.00%).
Operating Margin: 57.5%, reflecting continued operational efficiency and demand increases.
6. Cash Flow Metrics: Free Cash Flow was reported at $7.05 billion, indicating robust cash generation from operations.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	18.12B	205.51%	34.15%
Gross Profit	13.40B	321.78%	41.62%
Operating Income	10.42B	1 633.28%	53.19%
Net Income	9.24B	1 259.26%	49.37%
EPS	0.38	1 307.41%	52.00%

Key Financial Ratios

Gross Profit Margin

Excellent

74.00%

Gross profit margin is exceptional, indicating strong pricing power and operational efficiency

Operating Profit Margin

Excellent

57.50%

Operating margin is exceptional, indicating strong pricing power and operational efficiency

Net Profit Margin

Excellent

51.00%

Net profit margin is exceptional, indicating strong pricing power and operational efficiency

Return on Assets

Strong

17.10%

Return on assets demonstrates excellent capital efficiency and value creation

Return on Equity

Strong

27.80%

Return on equity demonstrates excellent capital efficiency and value creation

Current Ratio

Strong

3.59

Current ratio indicates excellent liquidity and financial flexibility

Debt to Equity

Moderate

0.33

Debt-to-equity indicates balanced capital structure with manageable debt

P/E Ratio

Growth

27.48x

Elevated P/E suggests growth expectations or premium valuation

Price to Book

High Premium

30.54x

Very high premium suggests asset-light business model or lofty expectations

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q2 2026	46,743.00	1.08	+55.6%	View
Q1 2026	44,062.00	0.76	+69.2%	View
Q4 2025	39,331.00	0.89	+77.9%	View
Q3 2025	35,082.00	0.78	+93.6%	View
Q2 2025	30,040.00	0.67	+122.4%	View
Q3 2024	18,120.00	0.37	+205.5%	View

NVDA

NVIDIA Corporation

Q2 2026 Report

NVIDIA Corporation (NVDA) QQ2 2026 Results – Record Data Center Momentum, Blackwell/Rubin Pipeline, and a $3–$4 Trillion AI Infrastructure Opportu...

Read full report

NVDA

NVIDIA Corporation

Q1 2026 Report

NVIDIA Corporation (NVDA) Q1 FY2026 Earnings Analysis: AI Inference Acceleration, Blackwell Ramp, and China Export Controls – Revenue $44.1B, Data C...

Read full report

NVDA

NVIDIA Corporation

Q4 2025 Report

NVIDIA Corporation (NVDA) Q4 2025 Financial Results: Record Revenue and Robust Demand for AI Infrastructure...

Read full report

NVDA

NVIDIA Corporation

Q3 2025 Report

NVIDIA Corporation (NVDA) Q3 2025 Financial Results: Exceptional Growth Driven by Accelerated AI Adoption...

Read full report

NVDA

NVIDIA Corporation

Q2 2025 Report

NVIDIA Corporation (NVDA) Q2 2025 Financial Results: Dominating the AI Landscape...

Read full report

NVIDIA Corporation (NVDA) Q3 2024 Earnings Report

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Financial Highlights

Income Statement

Key Financial Ratios

Management Insights Available for Members

Peer Comparison Available for Members

Investment Outlook & SWOT Available for Members

Historical Earnings Comparison

More NVDA Quarterly Reports

NVDA

NVDA

NVDA

NVDA

NVDA

Q3 2024 Reports in Technology Sector

INTC

MU

Related Financial Data

Sector Analysis: Technology

NVDA Full Profile

NVDA Financial Statements

Earnings Calendar