"The world has reached the tipping point of a new computing era... the $1 trillion installed base of data center infrastructure is rapidly transitioning from general purpose to accelerated computing."
— Jensen Huang
03Detailed Report
NVDA
NVIDIA Corporation
Period
Q4 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 14, 2026
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Executive Summary
In the fourth quarter of 2024, NVIDIA Corporation (NVDA) achieved extraordinary financial results, with revenue reaching $22.1 billion, representing a staggering 265% year-over-year (YoY) growth and a sequential increase of 22% from the third quarter. This robust performance can be attributed to significant advancements in AI technologies, particularly driven by the NVIDIA Hopper architecture and thriving data center operations. The company anticipates continued momentum into the upcoming quarters, forecasting first-quarter revenue around $24 billion, reflective of ongoing strong demand across various sectors, particularly in AI applications.
CEO Jensen Huang emphasized that the industry is at a pivotal point, transitioning from general-purpose computing to accelerated solutions, with NVIDIA's offerings positioned to capture substantial growth in the burgeoning field of generative AI. Management's insightful commentary throughout the earnings call highlighted NVIDIA’s strategy to enhance market penetration and its commitment to sustain a leadership role in AI infrastructure development.
Key Performance Indicators
Revenue
Increasing
22.10B
QoQ: 21.98% | YoY: 265.28%
Gross Profit
Increasing
16.79B
75.97% margin
QoQ: 25.31% | YoY: 338.06%
Operating Income
Increasing
13.61B
QoQ: 30.69% | YoY: 983.92%
Net Income
Increasing
12.29B
QoQ: 32.91% | YoY: 768.81%
EPS
Increasing
0.50
QoQ: 31.58% | YoY: 771.08%
Revenue Trend
Margin Analysis
Financial Highlights
Financial Performance:
- Revenue: $22.1 billion (Q4 2024), up 265% YoY and 22% QoQ
- Gross Profit: $16.8 billion, gross margin of 76.3%
- Operating Income: $13.6 billion, operating margin of 61.6%
- Net Income: $12.3 billion, net margin of 55.6%
- Earnings Per Share (EPS): $0.50 diluted, reflecting a 771.1% YoY increase
- Cash Flow: Operating cash flow of $11.5 billion, free cash flow of $11.2 billion
Key Insights from Adjustments:
- Dramatic growth in data center revenues, totaling $18.4 billion for Q4, up 409% YoY, primarily from AI training and inference workloads.
- Strong demand for ASICs and the Hopper architecture, with management indicating a supply-constrained outlook for upcoming product launches, particularly the next-gen H200 series.
- Strategic increases in R&D spending (approximately $2.5 billion) signal commitment to innovation amidst soaring demand.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
22.10B
265.28%
21.98%
Gross Profit
16.79B
338.06%
25.31%
Operating Income
13.61B
983.92%
30.69%
Net Income
12.29B
768.81%
32.91%
EPS
0.50
771.08%
31.58%
Key Financial Ratios
Gross Profit Margin
Excellent
76.00%
Gross profit margin is exceptional, indicating strong pricing power and operational efficiency
Operating Profit Margin
Excellent
61.60%
Operating margin is exceptional, indicating strong pricing power and operational efficiency
Net Profit Margin
Excellent
55.60%
Net profit margin is exceptional, indicating strong pricing power and operational efficiency
Return on Assets
Strong
18.70%
Return on assets demonstrates excellent capital efficiency and value creation
Return on Equity
Strong
28.60%
Return on equity demonstrates excellent capital efficiency and value creation
Current Ratio
Strong
4.17
Current ratio indicates excellent liquidity and financial flexibility
Debt to Equity
Conservative
0.26
Debt-to-equity shows conservative leverage and low financial risk
P/E Ratio
Growth
31.35x
Elevated P/E suggests growth expectations or premium valuation
Price to Book
High Premium
35.84x
Very high premium suggests asset-light business model or lofty expectations
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