Once again, Nvidia has proven its mettle in the tech arena with a stellar performance in its fourth quarter (Q4) results, announced late Wednesday. The company’s report of blowout results has not only assuaged investor concerns but also sent its stock soaring, with a premarket surge of up to 13% on Thursday.
At the time of this publication, Nvidia Corp stock (NVDA) has witnessed a surge.
NVIDIA Corp
Current Price: $778.40
Change : +103.68
Change (%): (15.37%)
Volume: 46.8M
Source: Tomorrow Events Market Data
Q4 Results of Nvidia:
In the recently concluded fiscal year 2024, Nvidia’s data center segment emerged as a standout performer, raking in a staggering revenue of $18.4 billion in the fourth quarter alone. This monumental leap from the previous year’s figures underscores the company’s unrivaled position in powering AI applications with its high-end chips.
Nvidia’s financial achievements in fiscal 2024 paint a picture of unparalleled success, with net income reaching $32.3 billion and annual profits soaring to new heights. The company’s revenue growth of 126% from the prior year is a testament to its unwavering commitment to innovation and strategic foresight.
In a resounding victory for Nvidia, the company reported adjusted earnings per share (EPS) of $5.16 on revenue totaling $22.1 billion for the quarter. These figures far surpass analyst expectations, reflecting Nvidia’s ability to consistently outperform and defy market trends.
A Glimpse into the Future: Nvidia’s Projections
Looking ahead, Nvidia’s projections for the first quarter of fiscal year 2025 signal continued growth and expansion, with revenue expected to reach $24 billion, plus or minus 2%. CEO Jensen Huang’s statement underscores the burgeoning demand for accelerated computing and generative AI, positioning Nvidia at the forefront of technological innovation.
The spectacular performance of Nvidia in the Q4 results reaffirms its status as a trailblazer in the tech industry. With each milestone surpassed and every expectation exceeded, Nvidia continues to chart new territories and redefine industry standards. As the company propels towards a future fueled by innovation and ingenuity, one thing remains abundantly clear: Nvidia’s journey is far from over, and the best is yet to come.
