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Nvidia (NASDAQ: NVDA) sported a price-to-earnings ratio near 80 on March 22nd, 2024, well above the tech sector's average valuation. This high ratio likely reflects the excitement surrounding NVDA's recent earnings announcement and its promising future growth.
A pioneer in accelerated computing since 1993, NVIDIA revolutionized the PC gaming scene with the GPU in 1999. This innovation not only propelled computer graphics but also ignited the modern AI era and is now driving industrial transformation across various markets. NVIDIA has grown into a full-stack computing powerhouse over the years, offering data-center solutions to diverse industries.
Latest financial results
NVIDIA has reported strong financial results for Q4 and fiscal year 2024 (ended Jan 28, 2024).
Its revenue surged 22% QoQ and a massive 265% YoY to $22.1 billion in Q4. Earnings per share also saw significant growth, with GAAP EPS up 33% QoQ and 765% YoY to $4.93. Non-GAAP EPS followed a similar trend, rising 28% QoQ and 486% YoY to $5.16.
For the full fiscal year, revenue reached $60.9 billion, reflecting a 126% YoY increase. GAAP and Non-GAAP EPS mirrored the quarterly trend with impressive YoY growth of 586% and 288%, respectively.
Additionally, NVIDIA declared a quarterly cash dividend of $0.04 per share to shareholders of record on March 6, 2024, payable on March 27, 2024.
NVIDIA teamed up with major players to accelerate AI adoption:
Google: Optimized data center and PC platforms for Google's groundbreaking open-language models (Gemma).
Amazon Web Services (AWS): Expanded collaboration to offer NVIDIA DGX Cloud on AWS.
Amgen: Provided DGX SuperPOD for drug discovery and precision medicine.
Singtel: Brought generative AI services to Singapore with energy-efficient data centers powered by NVIDIA Hopper GPUs.
NVIDIA also unveiled new AI tools:
NVIDIA NeMo Retriever: A microservice for integrating custom large language models with enterprise data for accurate AI applications.
NVIDIA MONAI cloud APIs: Assisted developers in integrating AI into medical imaging solutions.
Additionally, NVIDIA supported the U.S. government's National Artificial Intelligence Research Resource pilot program, promoting a shared research infrastructure.
NVIDIA's outlook for Q1 fiscal 2025
NVIDIA forecasts strong revenue of $24.0 billion, with a +/- 2% margin, for the first quarter of fiscal 2025. It anticipates maintaining healthy gross margins above 76% and expect operating expenses to be around $3.5 billion (GAAP) and $2.5 billion (non-GAAP). The company projects a tax rate of approximately 17%.
