The turnover for the fourth quarter – which landed at almost 6.1 billion dollars, approximately 63 billion kroner – however, decreased by 21 percent compared to a year ago. The company reports adjusted earnings per share of $0.88
Turnover for the broken financial year was just under 27 billion dollars, marginally higher than the previous year.
Despite continued shakiness in the PC market – which is the company’s largest market – Nvidia’s investments in server halls and artificial intelligence have caused the stock to rise sharply this year. The stock was up 45 percent since the turn of the year before the report was released on Wednesday evening. In after-hours trading on the New York Stock Exchange, it rose almost 8 percent.
Jensen Huang, CEO and founder, highlights AI and a recovery in the gaming industry after the pandemic as reasons for the brightening of the situation.
“We see accelerating interest,” he says of AI in a press release.
For the first quarter of fiscal year 2024, revenue is expected to be $6.5 billion, which is higher than expectations of $6.3 billion, reports CNBC.