Chipmaker Nvidia reported third-quarter results that beat analyst estimates driven by strong data-center processor sales, according to a news release by Nvidia on Wednesday.
- The Santa Clara, California-based company posted adjusted earnings of $1.17 per share on sales of $7.1 billion for the quarter ended Oct. 31. On an annual basis, Nvidia earnings soared 60% as sales jumped 50%.
- Nvidia’s data-center revenue increased 55% from a year earlier to stand at $2.94 billion.
- Chief Executive Jensen Huang stated that demand for Nvidia artificial intelligence is rising, driven by hyper scale and cloud scale-out, and widespread adoption by over 25,000 firms.
- The company’s gaming chip sales exploded 42% higher to $3.22 billion. Nvidia posted revenue growth in two smaller divisions: professionalization visualization and automotive.
For Q4, Nvidia expects revenue of $7.4 billion, an increase of 48% from the year-earlier period. NVDA up +8.41%, Pre-market trading.