Nvidia's AI-Driven Surge; Record Earnings and Optimistic Outlook
Nvidia reported a strong fourth-quarter earnings performance, driven by surging demand for its artificial intelligence (AI) products. The company announced revenue of $39.33 billion, a 78% increase year-over-year, surpassing Wall Street estimates of $38.05 billion. Adjusted earnings per share came in at 89 cents, beating the expected 84 cents. For the full fiscal year, Nvidia’s revenue soared 114% to $130.5 billion, with net income reaching $72.9 billion, a 145% increase from the previous year.
The company’s data center business, which includes its AI-focused graphics processing units (GPUs), accounted for 91% of total revenue, generating $35.6 billion in the quarter, up 93% year-over-year. Nvidia CEO Jensen Huang highlighted the “amazing” demand for the company’s next-generation Blackwell AI chips, which are expected to see a significant sales ramp in the first quarter of 2025. CFO Colette Kress noted that Blackwell represents the fastest product ramp in Nvidia’s history, with large cloud service providers driving approximately 50% of data center revenue.
Despite the strong results, Nvidia’s gross margin declined slightly to 73%, attributed to the transition to more complex and higher-cost data center systems. The company also provided optimistic guidance for the first quarter of 2025, forecasting revenue of approximately $43 billion, plus or minus 2%, compared to Wall Street estimates of $41.78 billion.
Nvidia’s stock remained flat in extended trading following the earnings release, as investors weighed the company’s robust growth against concerns about slowing momentum. Analysts remain largely bullish on Nvidia, with an average price target of $178.56, suggesting a potential 36% upside. The company continues to dominate the AI chip market, with its GPUs powering most generative AI models, and is expected to maintain its leadership position as demand for AI infrastructure grows.
Nvidia sales grow 78% on AI demand, company gives strong guidance
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