NVIDIA Reports Record Fourth Quarter Revenue
Company Announces Financial Results for Fourth Quarter and Fiscal 2023
Revenue Reaches $7.64 Billion
SANTA CLARA, Calif., Feb. 23, 2023 (GLOBE NEWSWIRE) -- NVIDIA (NASDAQ: NVDA) today reported revenue for the fourth quarter ended January 30, 2023, of $7.64 billion, up 21% from the previous quarter and 43% from the same period last year. This represents a record revenue for the company.
The company's revenue growth was driven by strong demand for its gaming, data center, and professional visualization products. Gaming revenue increased 46% year-over-year to $3.62 billion, data center revenue increased 11% to $3.62 billion, and professional visualization revenue increased 14% to $462 million.
NVIDIA's net income for the quarter was $2.3 billion, up 12% from the previous quarter and 55% from the same period last year. The company's diluted earnings per share were $0.88, up 16% from the previous quarter and 59% from the same period last year.
"NVIDIA had a record fourth quarter, driven by strong demand for our gaming, data center, and professional visualization products," said Jensen Huang, NVIDIA's founder and CEO. "Our leadership in AI is fueling growth across all of our businesses, and we are well-positioned to continue to drive innovation and create value for our customers."
For the full fiscal year 2023, NVIDIA reported revenue of $29.6 billion, up 26% from the previous year. The company's net income for the year was $9.2 billion, up 29% from the previous year. The company's diluted earnings per share were $3.36, up 33% from the previous year.
NVIDIA is a global leader in AI and accelerated computing. The company's products are used by millions of customers around the world to power a wide range of applications, including gaming, data center, professional visualization, and automotive.
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