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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.

Nvidia unveiled its new line of GPUs equipped with a cutting-edge technology called Ampere. Naturally, market interest was high in the new technology leading to a complete sell-out of the new GeForce RTX 3080 in September.

Huang is confident that the company will achieve a robust fourth quarter in its gaming segments as increasing numbers of customers continue to work and game from the comfort of their homes as lockdowns persist globally due to the COVID-19 pandemic.

In addition to the gaming division, Nvidia's data center segment is also expected to post high returns in Q4. As a matter of fact, Nvidia's data center segment surpassed gaming in Q3 2020 for the first time ever, due to the continual diversification of its product line.

A big contributor to this year's earnings was Nvidia's recent acquisition of Mellanox, making up 13% of revenues for the company.

The coronavirus has been both a blessing and a curse for companies across the U.S. Indeed, there have been plenty of losers and few winners. E-commerce and social media firms in particular thrived as increasing numbers of users stay at home and browse the web. The same could be said for Nvidia in 2020 and heading into 2021.

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