The company's data center business, which now makes up the majority of Nvidia's revenue, saw sales increase by 409% to $18.40 billion. However, its gaming business, which used to be Nvidia's primary source of income, only saw a 56% increase to $2.87 billion. The company's smaller businesses did not see the same level of growth, with its automotive business declining 4% to $281 million in sales, and its OEM and other business, which includes crypto chips, rising 7% to $90 million.
Key takeaways:
- Nvidia's fourth quarter earnings and sales surpassed Wall Street's expectations, leading to a 10% increase in shares during extended trading.
- The company reported an adjusted earnings per share of $5.16, beating the expected $4.64, and a revenue of $22.10 billion, higher than the anticipated $20.62 billion.
- Nvidia's net income during the quarter was $12.29 billion, a 769% increase from last year, and total revenue rose 265% due to strong sales for AI chips for servers, particularly the "Hopper" chips.
- While Nvidia's gaming business saw a 56% increase in sales, its automotive business declined by 4%, and its OEM and other business, which includes crypto chips, rose by 7%.