NVIDIA Announces Financial Results for First Quarter and Fiscal 2025
Record Quarterly Revenue of $26.0 Billion, Up 18% from Q4 and Up 26.2% from a Year Ago.
SANTA CLARA, Calif. – May 25, 2024 – NVIDIA Corporation (NASDAQ: NVDA) today reported revenue for the first quarter ended April 28, 2024, of $26.0 billion, up 18% from the previous quarter and up 26.2% from a year ago. The record revenue was driven by growth in all of NVIDIA's businesses, including gaming, data center, and professional visualization.
Key Financial Highlights
- $26.0 billion in revenue, up 18% from the previous quarter and up 26.2% from a year ago.
- $10.5 billion in gross profit, up 22% from the previous quarter and up 32% from a year ago.
- $3.0 billion in net income, up 26% from the previous quarter and up 44% from a year ago.
- $1.51 in diluted earnings per share, up 26% from the previous quarter and up 44% from a year ago.
“NVIDIA's financial results for the first quarter of fiscal 2025 reflect the continued strong demand for our products and the growth of our business across all major markets,” said Jensen Huang, founder and CEO of NVIDIA. “Our record revenue and earnings are a testament to the strength of our technology and the growing adoption of AI and accelerated computing in all industries.”
NVIDIA’s gaming revenue grew 19% year-over-year to $3.6 billion, driven by strong demand for the company’s GeForce RTX GPUs. Data center revenue grew 22% year-over-year to $10.6 billion, driven by growing demand for NVIDIA’s GPUs and networking products from cloud service providers and hyperscale data centers. Professional visualization revenue grew 22% year-over-year to $1.2 billion, driven by strong demand for the company’s Quadro GPUs from professionals in industries such as design, engineering, and manufacturing.
NVIDIA’s outlook for the second quarter of fiscal 2025 includes revenue of $26.9 billion, plus or minus 2%, and diluted earnings per share of $1.57, plus or minus 2%.
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