NVIDIA announces its latest financial performance results
NVIDIA has reported that it earned US$3.11 billion in revenue for 4FQ2020, whereas it made $2.2 billion in 4FQ2019. This, then, represents a year-on-year (YoY) gain of 41%. This figure is also up 3% quarter-on-quarter (QoQ); furthermore, its 4FQ2020 operating income came in at $990 million, a massive 237% improvement YoY.
Similarly, the graphics giant's net income in that quarter was $950 million, or 68% more YoY. NVIDIA's CEO, Jensen Huang, attributed this growth to technologies such as AI, RTX and the company's emerging autonomous-vehicle control arm. He acknowledged the increasingly established role of ray-tracing in gaming, virtual reality (VR) and content-creation, as well as its potential in render-generation and in cloud gaming.
Huang also asserted that NVIDIA is a prominent provider of AI in areas such as language processing and natural reproduction. The executive also sees a place for its expertise in the areas of 5G, genomics and robotics.
However, it was not all rosy for his organisation in its 2020 fiscal year (FY2020). The total revenue for the period was $10.92 billion, or 7% less than in FY2019. Therefore, its adjusted earnings per diluted share were $4.52, or 32% down YoY.