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Jan 29, 2023
NVIDIA Q4 2023 Earnings Report
NVIDIA reported Q4 2023 earnings, with revenue of $6.05 billion and GAAP earnings per diluted share of $0.57.
Key Takeaways
NVIDIA's Q4 2023 revenue was $6.05 billion, a 21% decrease year-over-year but a 2% increase from the previous quarter. GAAP earnings per diluted share were $0.57, down 52% year-over-year and up 111% from the previous quarter. Non-GAAP earnings per diluted share were $0.88, down 33% year-over-year and up 52% from the previous quarter.
Q4 revenue was $6.05 billion, down 21% year-over-year and up 2% from the previous quarter.
GAAP earnings per diluted share were $0.57, down 52% year-over-year and up 111% from the previous quarter.
Non-GAAP earnings per diluted share were $0.88, down 33% year-over-year and up 52% from the previous quarter.
Returned $1.15 billion to shareholders through share repurchases and cash dividends in Q4.
Revenue by Segment
Forward Guidance
NVIDIA's outlook for the first quarter of fiscal 2024 includes revenue of $6.50 billion, plus or minus 2%. GAAP and non-GAAP gross margins are expected to be 64.1% and 66.5%, respectively, plus or minus 50 basis points. GAAP and non-GAAP operating expenses are expected to be approximately $2.53 billion and $1.78 billion, respectively. GAAP and non-GAAP other income and expense are expected to be an income of approximately $50 million. GAAP and non-GAAP tax rates are expected to be 13.0%, plus or minus 1%.
Positive Outlook
- Revenue is expected to be $6.50 billion, plus or minus 2%.
- GAAP gross margin is expected to be 64.1%, plus or minus 50 basis points.
- Non-GAAP gross margin is expected to be 66.5%, plus or minus 50 basis points.
- GAAP other income and expense are expected to be an income of approximately $50 million.
- Non-GAAP other income and expense are expected to be an income of approximately $50 million.
Challenges Ahead
- GAAP operating expenses are expected to be approximately $2.53 billion.
- Non-GAAP operating expenses are expected to be approximately $1.78 billion.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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