NVIDIA’s fourth quarter revenue of $5 billion

NVIDIA's fourth quarter revenue of $5 billion

NVIDIA today released its fourth quarter and full year results for fy2021. According to the report, NVIDIA’s revenue in the fourth quarter was US $5.003 billion, up 61% compared with us $3.105 billion in the same period of last year, up 6% compared with us $4.726 billion in the previous quarter; its net profit was US $1.457 billion, up 53% compared with us $950 million in the same period of last year, up 9% compared with us $1.336 billion in the previous quarter; it did not include some one-time items (not in accordance with us general accounting) The adjusted net profit of NVIDIA in the fourth quarter was $1.957 billion, up 67% from $1.172 billion in the same period of last year, and 7% from $1.834 billion in the previous quarter.

NVIDIA's fourth quarter revenue of $5 billion
NVIDIA’s revenue and adjusted earnings per share for the fourth quarter of fiscal year 2021 and revenue outlook for the first quarter of fiscal year 2022 exceeded Wall Street analysts’ previous expectations, pushing its share price up nearly 2% after hours.
Main results of the fourth quarter:
In the quarter ended January 31, NVIDIA’s net profit was $1.457 billion, up 53% from $950 million in the same period last year and 9% from $1.336 billion in the previous quarter; its diluted earnings per share was $2.31, up 51% from $1.53 in the same period last year and 9% from $2.12 in the previous quarter.
Excluding certain one-time items (not in accordance with US GAAP), NVIDIA’s adjusted net profit in the fourth quarter was US $1.957 billion, up 67% compared with us $1.172 billion in the same period of the previous year, and 7% compared with us $1.834 billion in the previous quarter; its adjusted diluted earnings per share was US $3.10, up 64% compared with us $1.89 in the same period of the previous year, and up 64% compared with us $2.91 in the previous quarter Compared with 7% growth, this performance exceeded analysts’ expectations. According to data provided by Yahoo Finance Channel, 30 analysts had expected NVIDIA’s fourth quarter earnings per share to reach $2.81 on average.
NVIDIA’s revenue in the fourth quarter was US $5.003 billion, up 61% from US $3.105 billion in the same period last year and 6% from US $4.726 billion in the previous quarter, which also exceeded analysts’ expectations. According to data provided by Yahoo Finance Channel, 30 analysts had expected NVIDIA’s fourth quarter revenue to reach $4.82 billion on average.
NVIDIA’s gross profit margin in the fourth quarter was 63.1%, down 180 basis points from 64.9% in the same period last year and up 50 basis points from 62.6% in the previous quarter. Excluding certain one-time items (not in accordance with U.S. GAAP), NVIDIA’s adjusted gross profit margin in the fourth quarter was 65.5%, up 10 basis points from 65.4% in the same period of last year, and unchanged from 65.5% in the previous quarter.
NVIDIA’s operating expenses in the fourth quarter were $1.650 billion, up 61% from $1.025 billion in the same period last year, and 6% from $1.562 billion in the previous quarter. Excluding certain one-time items (not in accordance with US GAAP), NVIDIA’s adjusted operating expenses in the fourth quarter were US $1.187 billion, up 47% from US $810 million in the same period of last year, and 8% from US $1.101 billion in the previous quarter.
NVIDIA’s operating profit in the fourth quarter was $1.507 billion, up 52% from $990 million in the same period last year, and 8% from $1.398 billion in the previous quarter. Excluding certain one-time items (not in accordance with US GAAP), NVIDIA’s adjusted operating profit in the fourth quarter was US $2089 million, up 71% from US $1220 million in the same period of last year and 5% from US $1.993 billion in the previous quarter.
Main achievements of the year:
In the whole fiscal year 2021, NVIDIA’s net profit was US $4332 million, up 55% from US $2796 million in fiscal year 2020, and diluted earnings per share was US $6.90, up 53% from US $4.52 in fiscal year 2020.
Excluding certain one-time items (not in accordance with US GAAP), NVIDIA’s net profit in fiscal year 2021 was US $6.277 billion, an increase of 75% compared with us $3.580 billion in fiscal year 2020, and its diluted earnings per share was US $10.00, an increase of 73% compared with us $5.79 in fiscal year 2020.
NVIDIA’s revenue in fiscal year 2021 was $16.675 billion, up 53% from $10.918 billion in fiscal year 2020.
NVIDIA’s gross margin in fy2021 was 62.3%, up 30 basis points from 62.0% in fy2020. Excluding certain one-time items (not in accordance with U.S. GAAP), NVIDIA’s adjusted gross profit margin was 65.6% in fy2021, up 310 basis points from 62.5% in fy2020.
NVIDIA’s operating expenditure in fiscal year 2021 was US $5.864 billion, up 50% from US $3.922 billion in fiscal year 2020. Excluding certain one-time items (not in accordance with US GAAP), NVIDIA’s adjusted operating expenses in fiscal year 2021 was US $4144 million, an increase of 34% compared with us $3086 million in fiscal year 2020.
NVIDIA’s operating profit in fy2021 was $4.532 billion, up 59% from $2.846 billion in fy2020. Excluding certain one-time items (not in accordance with US GAAP), NVIDIA’s operating profit in fiscal year 2021 was US $6.803 billion, an increase of 82% compared with us $3.735 billion in fiscal year 2020.
Other financial information:
In the fourth quarter of fy2021, NVIDIA paid shareholders a quarterly cash dividend of $99 million. Throughout the 2021 fiscal year, NVIDIA distributed a cash dividend of $395 million to its shareholders.
NVIDIA will pay its next quarterly cash dividend of $0.16 per share to all registered shareholders as of March 10, 2021 on March 31, 2021.
Performance Outlook:
NVIDIA expects its revenue to reach $5.3 billion in the first quarter of fiscal 2022, up and down by 2%, exceeding analysts’ expectations; gross profit rates in accordance with and not in accordance with U.S. GAAP are expected to reach 63.8% respectively The operating expenses in accordance with and not in accordance with U.S. general accounting standards are expected to reach about $1.67 billion and $1.20 billion respectively; other income in accordance with and not in accordance with U.S. general accounting standards is expected to reach about $50 million; the tax rate in accordance with and not in accordance with U.S. general accounting standards is expected to be 10%, up and down 1%. According to data provided by Yahoo Finance Channel, 30 analysts had expected NVIDIA’s first quarter revenue to reach $4.51 billion on average.
Changes in share price:
On the same day, NVIDIA shares closed up $14.28, or 2.52%, at $579.96 in regular NASDAQ trading. In subsequent after hours trading up to 4:32 p.m. EST on Wednesday (5:32 a.m. Beijing time on Thursday), NVIDIA’s shares rose another $10.88, or 1.88%, to $590.84. In the past 52 weeks, NVIDIA’s highest price was $614.90 and its lowest price was $180.68.