NVIDIA's Q3 revenue surges 94% to $35 billion, profits double
NVIDIA, one of the biggest names in the tech industry, has posted an all-time high revenue of $35.1 billion in its third-quarter earnings. The number marks an incredible 94% jump over the same period last year. The company's profits also surged, more than doubling to $19.3 billion. The results have beaten market expectations and highlighted NVIDIA's dominance in the AI-driven tech space.
Data center division fuels revenue growth
A large chunk of NVIDIA's revenue came from its data center division, which brought in $30.8 billion. This was higher than the $28 billion some analysts had predicted. NVIDIA also saw a whopping 111% jump in GAAP earnings per share, which came in at $0.78 per share. Though it was a slight dip to 74.6%, the company's gross margins were still better than what analysts had predicted.
NVIDIA assures investors despite production concerns
Amid concerns over possible production delays and overheating issues in some data center racks, NVIDIA assured investors that it was on track, and even exceeding expectations, for Blackwell chip deliveries this quarter. The company also addressed these issues calmly, saying that minor adjustments were "normal and expected." This has helped keep investor trust in the company's trajectory.
Market value and future revenue projections
NVIDIA's market value now stands at a whopping $3.579 trillion, thanks to a 195% rise in its stock price this year. The company is now estimating its revenue for the ongoing quarter (ending January) to be around $37.5 billion.
