- Nvidia reported better-than-expected Q4 earnings results, with record revenue that exceeded Wall Street estimates. Revenue was up 53% year-over-year.
- Nvidia’s gaming division remains its largest, with gaming revenue up 37%. Its data center business also saw strong growth of 11%.
- Nvidia provided upbeat revenue guidance for the current quarter, indicating continued momentum. Its results reinforced its leadership in graphics processing units.
Nvidia stock jumped 15% as the chipmaker reported better-than-expected earnings results, boosting technology stocks and driving a global market rally.
Nvidia’s Financial Performance
The company posted record revenue in the fourth quarter, exceeding Wall Street estimates. Revenue rose 53% to $7.64 billion compared to $4.82 billion a year earlier. Earnings per share came in at $1.32, beating expectations.
Nvidia’s Gaming and Data Center Businesses
The company’s gaming division remains its largest, with revenue up 37% to $3.42 billion. Its data center business saw sales increase by 11% to $3.26 billion. Demand for Nvidia‘s graphics chips remains strong.
JUST IN: Nvidia $NVDA stock is up 60% in 2024
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Outlook and Impact
For the current quarter, Nvidia forecast revenue of $8.1 billion, plus or minus 2%. The upbeat guidance indicates continued momentum, helping lift other chipmakers and supporting broader market gains. Nvidia’s results reinforce its leadership position in graphics processing units.
Conclusion
Nvidia delivered standout fourth quarter financials, exceeding estimates across the board. Its gaming and data center segments continue to drive growth. The company sees sustained demand ahead, with its positive guidance boosting tech stocks and equity markets more broadly.
