---
title: "NVIDIA (NVDA) Revenue & Earnings History"
description: "NVIDIA annual revenue and earnings history from FY2018 to FY2025. Data center GPU revenue, AI-driven growth, net income, and profit margins by fiscal year."
canonical: https://www.getswoopr.com/tables/company/nvidia-revenue-earnings-history/
source: "Swoopr Investment: https://www.getswoopr.com"
---

## Direct Answer



> NVIDIA reported $60.9 billion in revenue for fiscal year 2024 (ending January 2024), up from $26.9 billion in FY2023 -- a 126% year-over-year increase driven by AI data center GPU demand. Net income reached $29.8 billion (49% net margin). For FY2025, revenue exceeded $130 billion, with the data center segment alone exceeding $100 billion.








# NVIDIA (NVDA) Annual Revenue and Earnings History



## NVIDIA annual revenue, net income, data center revenue, and net margin (FY2018-FY2025)



| Fiscal Year | Revenue (B) | Net Income (B) | Data Center Rev. (B) | Net Margin |
| --- | --- | --- | --- | --- |
| FY2018 | $9.7 | $3.0 | $1.9 | 30.9% |
| FY2019 | $11.7 | $4.1 | $2.9 | 35.0% |
| FY2020 | $10.9 | $2.8 | $3.0 | 25.6% |
| FY2021 | $16.7 | $4.3 | $6.7 | 25.8% |
| FY2022 | $26.9 | $9.8 | $11.0 | 36.4% |
| FY2023 | $26.9 | $4.4 | $15.0 | 16.3% |
| FY2024 | $60.9 | $29.8 | $47.5 | 48.9% |
| FY2025 est. | $130+ | $70+ | $100+ | ~55%+ |



Source: [NVIDIA Investor Relations Annual Reports](https://investor.nvidia.com/financial-information/annual-reports/). Note: FY2023 margins depressed by crypto/gaming downturn inventory charges. Last verified: September 2026.



## Frequently asked questions



Why did NVIDIA's revenue more than double in FY2024?

NVIDIA's FY2024 revenue surge was driven by one factor: the explosion in demand for AI training infrastructure. The H100 GPU, designed for large-scale AI training (used by OpenAI, Google, Meta, and Microsoft for large language models), was chronically supply-constrained throughout 2023. Data center customers paid $30,000-40,000 per H100 GPU, accepting months-long delivery queues. NVIDIA's data center segment grew from $15 billion to $47.5 billion in one year. NVIDIA's GPU architecture (CUDA software ecosystem) has created enormous switching costs that competitors cannot quickly replicate.



Can NVIDIA maintain these margins?

NVIDIA's approximately 49% net margin in FY2024 is among the highest ever recorded for a semiconductor company at this revenue scale. It reflects: (1) dominant market position in AI training GPUs (estimated 70-80%+ market share); (2) software moat (CUDA ecosystem built over 15+ years); (3) pricing power during supply shortage; (4) asset-light manufacturing leverage (TSMC manufactures chips). Margin compression risks: AMD MI300X competition, in-house chip development by hyperscalers (Google TPUs, Amazon Trainium), and potential demand shift from training to inference where hardware is more commoditized.



What happened to NVIDIA's gaming business?

NVIDIA's gaming segment (GeForce GPUs) experienced boom-bust cycles. During the 2020-2021 crypto mining boom, GPU prices spiked 2-3x as miners competed with gamers for the same hardware. When crypto crashed in 2022, miners dumped GPUs onto the secondary market, crashing new GPU demand and requiring NVIDIA to take inventory charges. By FY2024, gaming had stabilized at approximately $10-11 billion annually. The data center segment now dominates, but gaming remains a meaningful (15-17% of revenue) business that drives NVIDIA's broad GPU development ecosystem.







## Cite This Page



If you reference this table in your own work, use the following citation format and add the date you accessed it:



> Swoopr Editorial Team. (2026). *NVIDIA (NVDA) Annual Revenue and Earnings History*. Swoopr Investment. [https://www.getswoopr.com/tables/company/nvidia-revenue-earnings-history/](https://www.getswoopr.com/tables/company/nvidia-revenue-earnings-history/)



Check the figures against the primary sources listed under References before you rely on or republish them; the series they come from are revised.







## References



- [NVIDIA: Investor Relations Annual Reports](https://investor.nvidia.com/financial-information/annual-reports/)







[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/) produces independent investment education and research content.



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