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