Nvidia's Q4 Revenue Surges Over 78%, Nearly 8x Higher Than 5 Years Ago: Analysts Debate Stock's Next Move As Jensen Huang Says Blackwell Production Has Been Ramped Up

NVIDIA Corp. NVDA reported fourth-quarter revenue of $39.3 billion, representing an extraordinary growth trajectory that has seen quarterly revenue multiply nearly eight times in just five years, according to data shared Wednesday by The Kobeissi Letter.

What Happened: The chipmaker’s daily revenue reached $427 million throughout the fourth quarter, with data center sales—primarily from AI-focused GPUs—surging 93% year-over-year to $35.6 billion, now accounting for over 90% of total revenue.

Nvidia's, $NVDA, Q4 Revenue by Year:

1. 2015: $1.4B
2. 2016: $2.2B
3. 2017: $2.9B
4. 2018: $2.2B
5. 2019: $3.1B
6. 2020: $5B
7. 2021: $7.6B
8. 2022: $6.1B
9. 2023: $22.1B
10. 2024: $39.3B

Nvidia's Q4 2024 revenue of $39.3 billion is now nearly 8 TIMES higher than it was 5 years…
— The Kobeissi Letter (@KobeissiLetter) February 26, 2025

Despite beating analyst expectations with earnings per share of $0.89 versus $0.84 expected and revenue exceeding forecasts by $1 billion, NVDA shares traded slightly lower after the announcement, continuing a pattern of muted post-earnings reactions.

Analyst John Kicklighter noted that the stock exhibited “lots of volatility, but no clear direction,” with a range of approximately 8% from the spot relative to Nvidia.

RiskReversal Co-Founder Guy Adami expressed concern about potential margin deceleration, telling CNBC, “If margins start to decelerate, that’s when these stories typically get long in the tooth.”

Nvidia earnings beats versus expectations.

– EPS of $0.89 vs $0.84 expected
– Revenue of $39.3 Bln vs $38.3 Bln expected

Lot's of volatility, but no clear direction. Range of ~8% of spot from $NVDA: pic.twitter.com/r4n2r0ZqU1
— John Kicklighter (@JohnKicklighter) February 26, 2025

Why It Matters: CEO Jensen Huang highlighted increasing computational demands in AI, saying that next-generation models require “100 times more compute” than earlier versions. He specifically cited DeepSeek’s R1, OpenAI’s GPT-4, and xAI’s Grok 3 as examples of models using intensive reasoning processes.

“DeepSeek was fantastic,” Huang said, praising its open-source reasoning model despite the company’s stock dropping 17% in January over concerns that DeepSeek had found ways to achieve better AI performance with lower infrastructure costs.

Nvidia forecasts first-quarter revenue of $43 billion, topping estimates of $41.75 billion. Huang says Blackwell AI supercomputers saw “billions in sales” in their first quarter as the company ramped up “massive-scale production.”

NVDA currently has a consensus price target of $172.28 based on 40 analysts, with recent targets from Rosenblatt, Morgan Stanley, and Tigress Financial implying a potential 52.59% upside.