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NVIDIA announces its latest financial performance results

NVIDIA posts its latest financial results. (Source: NVIDIA)
NVIDIA posts its latest financial results. (Source: NVIDIA)
NVIDIA has now completed its fiscal 2020, which ended on January 26 this year. It has reported revenues of just over US$3 billion for its last quarter (4FQ2020), or 41% greater compared to 4FQ2019. The company's CEO has attributed this success to its "accelerated computing" concerns.

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.

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Deirdre O Donnell, 2020-02-14 (Update: 2020-02-14)
Deirdre O'Donnell
I became a professional writer and editor shortly after graduation. My degrees are in biomedical sciences; however, they led to some experience in the biotech area, which convinced me of its potential to revolutionize our health, environment and lives in general. This developed into an all-consuming interest in more aspects of tech over time: I can never write enough on the latest electronics, gadgets and innovations. My other interests include imaging, astronomy, and streaming all the things. Oh, and coffee.