As we wind down to the final reporting of earnings results from various tech companies for the season, NVIDIA is one of the latest on the block to share results. It dropped its Q4 2023 earnings results today, and in said results, the company seemed to have beaten various expectations in its stats to put up an okay quarter on its own. It did, however, have to contend with various shortcomings in year-over-year comparisons.
NVIDIA reported its Q4 2023 earnings results on its investor relations website on February 22, 2023. According to the results, NVDIA’s earnings-per-share (EPS) came in at a total of $0.88 USD per share. This was higher than both Wall Street analyst expectations that predicted $0.81 per share and Whisper Number expectations at $0.85 per share. In addition, NVIDIA was able to put up a total revenue of $6.05 billion USD. That was a hair above the expectations that were set at just $6 billion.
Despite the wins against expectations, NVIDIA didn’t come up as strong in year-over-year comparisons in a lot of its stats. Even the overall revenue was down 21 percent from the company’s Q4 2022 earnings results. Moreover, NVIDIA took a big hit in its gaming revenue. NVIDIA put up $1.83 billion in this stat, down a staggering 46% from prior year. On its Q4 2023 conference call, NVIDIA said that factors such as COVID still affected the company’s production and ultimate bottom line. No doubt, the collapse of cryptocurrency in late 2022 and early 2023 has also played a part in the sale of GPUs and other PC hardware that boomed around the release of cards like the RTX 3080.
Nonetheless, with expectations low, NVIDIA was still able to beat estimates and put up a few wins for its Q4 2023. As we continue to report on company earnings results for the season, stay tuned here at Shacknews for more news and updates.