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Nvidia announced Thursday the financial results for the three months ending on Jan. 28, considered the fourth quarter of the 2024 fiscal year in its balance sheet.
Accordingly, the company's revenue in the said period increased by 265% annually to $22.1 billion, breaking a record.
Nvidia, which increased its revenue by 22% compared to the previous quarter, earned $6.1 billion in revenue in the same quarter last year.
The market expectation was that Nvidia's revenue would be $20.6 billion in this period.
"Accelerated computing and generative artificial intelligence have reached a critical threshold. " Nvidia's Founder and Chief Executive Officer (CEO) Jensen Huang said that demand is increasing across companies, industries and countries worldwide.
The chip manufacturer announced its revenue expectation for the current quarter as $24 billion.
Source: AA
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