Santa Clara, CA – May 23, 2024 – NVIDIA Corporation (NASDAQ: NVDA) recently announced its financial results for the first quarter of fiscal 2025, showcasing significant growth and advancements in various sectors. Here’s a detailed overview of the key highlights from their performance:
Financial Performance
- Revenue: NVIDIA reported a record quarterly revenue of $26.0 billion, marking an 18% increase from the previous quarter and a 262% rise from the same period last year.
- Earnings: The GAAP earnings per diluted share were $5.98, up 21% from the previous quarter and 629% from a year ago. Non-GAAP earnings per diluted share were $6.12, up 19% from the previous quarter and 461% from a year ago.
Segment Highlights
- Data Center: The data center segment achieved record revenue of $22.6 billion, a 23% increase from the previous quarter and 427% year-over-year. This growth was driven by the increasing demand for generative AI and AI inference on the Hopper platform, extending beyond cloud service providers to consumer internet companies, enterprise, sovereign AI, automotive, and healthcare sectors.
- Gaming: First-quarter gaming revenue stood at $2.6 billion, reflecting an 18% increase from a year ago, although it was down 8% from the previous quarter.
- Professional Visualization: This segment reported a revenue of $427 million, up 45% year-over-year, but down 8% from the previous quarter.
- Automotive: Automotive revenue reached $329 million, growing 17% from the previous quarter and 11% year-over-year.
Strategic Initiatives and Product Launches
- Generative AI and AI Factories: NVIDIA highlighted its focus on generative AI and the creation of AI factories, which are specialized data centers designed to produce AI. The company is leveraging its Blackwell platform to support trillion-parameter-scale generative AI and introduced the NVIDIA Spectrum-X, a new market offering for Ethernet-only data centers.
- NVIDIA ACE and AI Microservices: NVIDIA introduced new AI microservices to support developers in creating and deploying generative AI applications across its CUDA GPU installed base. These services are being adopted by major companies in various industries, including healthcare, gaming, and financial services.
- Stock Split and Dividend Increase: NVIDIA announced a ten-for-one forward stock split, effective June 7, 2024, aimed at making stock ownership more accessible. Additionally, the company increased its quarterly cash dividend by 150%, from $0.04 to $0.10 per share on a post-split basis.
Financial Outlook
For the second quarter of fiscal 2025, NVIDIA expects revenue to be approximately $28.0 billion, plus or minus 2%. The company also anticipates GAAP and non-GAAP gross margins to be around 74.8% and 75.5%, respectively.
Summary Tables
Q1 Fiscal 2025 Financial Summary (GAAP)
| Metric | Q1 FY25 | Q4 FY24 | Q1 FY24 | Q/Q Change | Y/Y Change |
|---|---|---|---|---|---|
| Revenue | $26.0B | $22.1B | $7.2B | +18% | +262% |
| Gross Margin | 78.4% | 76.0% | 64.6% | +2.4 pts | +13.8 pts |
| Operating Income | $16.9B | $13.6B | $2.1B | +24% | +690% |
| Net Income | $14.9B | $12.3B | $2.0B | +21% | +628% |
| Diluted EPS | $5.98 | $4.93 | $0.82 | +21% | +629% |
Q1 Fiscal 2025 Financial Summary (Non-GAAP)
Metric Q1 FY25 Q4 FY24 Q1 FY24 Q/Q Change Y/Y Change Revenue $26.0B $22.1B $7.2B +18% +262% Gross Margin 78.9% 76.7% 66.8% +2.2 pts +12.1 pts Operating Income $18.1B $14.7B $3.1B +22% +492% Net Income $15.2B $12.8B $2.7B +19% +462% Diluted EPS $6.12 $5.16 $1.09 +19% +461%
This comprehensive financial performance and strategic direction underscore NVIDIA’s robust growth and its pivotal role in driving the next wave of AI and computing innovations.
