Nvidia Reports Staggering Sales Growth Increase, Surpassing Expectations
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Nvidia surpassed its revenue guidance by over $2 billion for the third consecutive quarter. The company reported a staggering 265% increase in sales to $22.1 billion for the fiscal 2024 fourth quarter, significantly exceeding the expected $20 billion. The company projects a continued increase in sales, estimating total sales of around $24 billion for the current quarter. The gross profit margin for the full fiscal year 2024 grew to approximately 73%, up from 57% in fiscal 2023, and is anticipated to climb further to over 76% in the first quarter of fiscal 2025.