Nvidia reported a 126% year-on-year increase in revenue to $60.9 billion for the financial year ending January 28, 2024, and a nearly sevenfold increase in operating income to $33 billion. The company's share price has increased by 95% in the year to date, resulting in a market capitalization of $2.3 trillion. Other executives at Nvidia also saw significant increases in their compensation packages. The company's financial performance and executive compensation will be voted on by shareholders at the annual meeting on June 26.
Key takeaways:
- Nvidia's CEO Jenson Huang received a 60 percent pay increase in fiscal 2024, with his package totaling $34.16 million, largely due to a massive rally in the share price and triple digit growth percentages for revenue and operating profit.
- Huang's compensation included a base salary of $996,515, stock awards of $26.67 million, non-equity incentive compensation of $4 million, and other compensation of $2.494 million.
- Nvidia's revenue for the financial year ended January 28, 2024, jumped 126 percent year-on-year to $60.9 billion and operating income was up almost seven times to $33 billion.
- Other Nvidia executives also saw pay increases, with CFO Colette Kress receiving $13.26 million, Ajay Puri receiving $13.6 million, and Debora Shoquist receiving $11.05 million.