NVIDIA Corporation (NASDAQ: NVDA) reported outstanding financial results for the third quarter, completely outpacing analyst predictions.
For the quarter ended October 25, Nvidia reported adjusted earnings per share (EPS) of $2.91, higher than the $2.57 per share expected by Wall Street analysts. Its EPS rose 33% from the same quarter last year.
Nvidia raked in over $4.73 billion in total revenue compared with the $4.41 billion forecasted by analysts. Its revenue climbed 57% from the year-ago quarter. The company’s computer and networking segments generated most of the value, up 146% to $1.94 billion when compared to last year. Nvidia’s graphics segment was also up 25% this year, generating a cool $2.79 billion.
In a statement, NVIDIA Founder and CEO Jensen Huang “NVIDIA is firing on all cylinders, achieving record revenues in Gaming, Data Center and overall.The new NVIDIA GeForce RTX GPU provides our largest-ever generational leap and demand is overwhelming. NVIDIA RTX has made ray tracing the new standard in gaming.”
NVIDIA could deliver robust financial results in the fourth quarter
Analysts predicted a solid fourth quarter for the chipmaking giant, which specializes in graphics processing units (GPUs) that are utilized by gamers and artificial intelligence developers.
