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NVIDIA Posts Record Financial Results for Q4 and Fiscal 2024
Strong Growth Driven by Data Center and Gaming Revenue
NVIDIA, a global leader in artificial intelligence and computing technology, recently announced its financial results for the fourth quarter and fiscal year 2024. The company reported record quarterly revenue, with a 22% increase over the previous quarter and a 26.5% year-over-year growth.
Revenue and Growth Highlights
- Record quarterly revenue of $22.1 billion, up 22% from Q3 and 26.5% from the previous year.
- Record quarterly Data Center revenue of $18.4 billion, representing a 33% growth from Q3 and 76.9% increase year-over-year.
- Q4 net income jumped to $12.3 billion, a 33% increase from Q3 and a 76.9% increase year-over-year.
Progress in Key Areas
Since the previous earnings announcement, NVIDIA has made significant progress in several areas:
- Continued expansion of its Data Center business, driven by demand for artificial intelligence and machine learning.
- Strong growth in the Gaming segment, fueled by the success of its GeForce RTX 40 series graphics cards.
- Advances in autonomous driving technology, with partnerships with major automakers.
Looking Ahead
NVIDIA remains optimistic about its future prospects, citing the continued growth of artificial intelligence and the increasing demand for its products in various industries. The company plans to continue investing in innovation and expanding its technology portfolio to capture future growth opportunities.
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