Nvidia is still making billions in Q4 2023 despite a giant drop in PC demand

Illustration by Alex Castro / The Verge

Nvidia just reported its fourth quarter and full-year earnings, and it’s not exactly rosy — at least compared to pandemic highs. Last year, Nvidia had record quarterly revenue of $7.64 billion, including $3 billion in pure profit. For Q4 of its fiscal 2023, the company forecast that it would see just $6 billion in quarterly revenue in today’s earnings results, and that’s just about where it landed: $6.05 billion in revenue, down 21 percent, of which $1.4 billion was profit, down 53 percent. For the full year, it raked in $26.92 billion, almost identical to last year, though profit was down 55 percent.

Remember: in 2021, $5 billion in revenue a quarter was a new Nvidia record. Now it’s the status quo: the company says it’s expecting to...

Continue reading…



from The Verge - All Posts https://ift.tt/D0PtviM

Comments

Popular posts from this blog

LG’s ‘first gaming laptop’ has an RTX 3080 and 11th Gen Intel CPU

Adobe Acrobat Pro DC v2020.009.20074

Apple TV Plus will begin streaming Friday Night Baseball on April 8th