Perspective from the semiconductor industry.
NVIDIA's 3Q financial results and 4Q guidance have been released. As always, the content is exceptional. The actual performance has been better than expected, and the 4Q guidance has also exceeded market expectations. Now, let me, a NVIDIA enthusiast, explain.
■ Business Description
- Being the leading provider of AI chips (GPUs), with a focus on datacenter and gaming.
- Revenue composition for 3Q 2024 (August-October period): Datacenter business 88%, Gaming business 9%
■Performance in 3Q 2024
・Revenue: $35.08 billion (YoY +94%)
・EPS: $0.81 (YoY 2.0 times)
・Gross profit margin: 74.6% (Improvement from 74.0% in the same period last year)
・Datacenter business: 2.1 times growth compared to the same period last year, +17% compared to the previous quarter
*Demand from cloud service companies is particularly strong, accounting for about 50% of DC business revenue
■Financial estimates for 4Q 2024 (January to March)
・Revenue: $37.5 billion (YoY +70%)
・Gross profit margin: 73.5% (expected to decrease from 76.7% in the same period last year)
・With increased production by Blackwell, the gross profit margin is expected to temporarily drop to the early 70% range, but is forecasted to recover to the mid-70% range later.
■Growth Drivers
・Continued expansion of demand for AI chip development
・Strong demand from cloud service companies
・Strong sales of new products for the gaming sector
NVIDIA is truly invincible. How far will they go?
■ Business Description
- Being the leading provider of AI chips (GPUs), with a focus on datacenter and gaming.
- Revenue composition for 3Q 2024 (August-October period): Datacenter business 88%, Gaming business 9%
■Performance in 3Q 2024
・Revenue: $35.08 billion (YoY +94%)
・EPS: $0.81 (YoY 2.0 times)
・Gross profit margin: 74.6% (Improvement from 74.0% in the same period last year)
・Datacenter business: 2.1 times growth compared to the same period last year, +17% compared to the previous quarter
*Demand from cloud service companies is particularly strong, accounting for about 50% of DC business revenue
■Financial estimates for 4Q 2024 (January to March)
・Revenue: $37.5 billion (YoY +70%)
・Gross profit margin: 73.5% (expected to decrease from 76.7% in the same period last year)
・With increased production by Blackwell, the gross profit margin is expected to temporarily drop to the early 70% range, but is forecasted to recover to the mid-70% range later.
■Growth Drivers
・Continued expansion of demand for AI chip development
・Strong demand from cloud service companies
・Strong sales of new products for the gaming sector
NVIDIA is truly invincible. How far will they go?
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