10-Q - NVIDIA CORP (0001045810) (Filer)

Wed, Nov 20, 9:33 PM (54 days ago)

For the quarter ended October 27, 2024, NVIDIA Corporation (NVDA) reported revenue of $35,082 million, a significant increase of 94% year-over-year and 17% sequentially. This growth was primarily driven by robust demand in the Data Center segment, particularly for AI and accelerated computing solutions, with Data Center revenue rising 112% year-over-year. Gross profit margin stood at 74.6%, slightly up from 74.0% a year earlier, while operating income surged to $21,869 million, reflecting a 110% increase compared to the same period last year. Net income reached $19,309 million, translating to a diluted earnings per share of $0.78. Operating expenses increased by 44% year-over-year, largely due to higher compensation and R&D investments. Cash flow from operations was strong at $47,460 million for the nine months, bolstered by revenue growth despite significant investments in marketable securities and share repurchases totaling $32,410 million. Looking ahead, NVIDIA anticipates continued demand for its Data Center products, although supply constraints may impact future operations. The company remains vigilant regarding macroeconomic factors and geopolitical tensions that could influence its performance.