"Our Data Center compute revenue quadrupled from last year and networking revenue nearly tripled" - Colette Kress
— Colette Kress
03Detailed Report
NVDA
NVIDIA Corporation
Period
Q3 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 14, 2026
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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
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