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Nvidia Reports Big Q3 Earnings Beat, Record Sales

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Nvidia Reports Big Q3 Earnings Beat, Record Sales
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NVIDIA Corporation (NASDAQ: NVDA) on Thursday reported a big third-quarter earnings and sales beat.

The red-hot chip manufacturer delivered third-quarter earnings of $1.33 per share, beating estimates by 39 cents. Sales came in $280 million higher than estimates at a record $2.64 billion.

"We had a great quarter across all of our growth drivers," said Founder and CEO Jensen Huang. "Industries across the world are accelerating their adoption of AI.” "Our Volta GPU has been embraced by every major internet and cloud service provider and computer maker. Our new TensorRT inference acceleration platform opens us to growth in hyperscale datacenters. GeForce and Nintendo Switch are tapped into the strongest growth dynamics of gaming. And our new DRIVE PX Pegasus for robotaxis has been adopted by companies around the world. We are well positioned for continued growth," said Huang.

Nvidia expects fourth-quarter sales to be in the range of $2.65 billion.

Q3 Highlights

  • Record revenues of $2.64 billion were up 32 percent year-over-year
  • Growth across all platforms
  • Quarterly dividend raised 7 percent to 15 cents per share
  • Nvidia plans to return $1.25 billion to shareholders in FY19

Shares of Nvidia were up 3 percent following the release, but recently traded slightly lower in the after-hours session. Click here to see the full release.

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Image Credit: The Conmunity - Pop Culture Geek from Los Angeles, CA, USA - CES 2012 - NVIDIA, CC BY 2.0, via Wikimedia Commons

Posted-In: Jensen HuangEarnings News Guidance After-Hours Center Movers Tech Best of Benzinga

 

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