NVIDIA Corporation stock research
FY2024 Q3
NVIDIA (NVDA) Gross Margin — Quarter Ended Oct 29, 2023
Revenue increased compared to both the prior quarter and the same quarter last year, while cost of revenue also rose but at a slower pace. Consequently, gross profit and gross margin improved relative to both periods.
Gross margin takeaway
Quarter ended Oct 29, 2023 · FY2024 Q3
Revenue increased compared to both the prior quarter and the same quarter last year, while cost of revenue also rose but at a slower pace. Consequently, gross profit and gross margin improved relative to both periods.
- The primary observable driver of the gross margin improvement is the faster growth in revenue compared to the growth in cost of revenue.
- Gross margin was higher than the immediately preceding quarter and significantly higher than the same quarter one year earlier.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
74.0%
Gross profit
$13.4B
Revenue
$18.1B
Cost of revenue
$4.7B
Quarter-over-quarter change
+3.9 pts
Year-over-year change
+20.4 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jan 29, 2023 | $6.1B | $3.8B | $2.2B | 63.3% |
| Apr 30, 2023 | $7.2B | $4.6B | $2.5B | 64.6% |
| Jul 30, 2023 | $13.5B | $9.5B | $4.0B | 70.1% |
| Oct 29, 2023 | $18.1B | $13.4B | $4.7B | 74.0% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jul 30, 2023
+3.9 pts
Year-over-year change
Oct 30, 2022
+20.4 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The primary observable driver of the gross margin improvement is the faster growth in revenue compared to the growth in cost of revenue.
Gross margin was higher than the immediately preceding quarter and significantly higher than the same quarter one year earlier.
Monitor the trend in cost of revenue as a proportion of revenue.