NVIDIA keeps growing at a stellar rate, the GPU designer announced record third-quarter revenue of $7.1 billion, up 50 percent from a year earlier! Gaming is still NVIDIA's biggest revenue driver, up 42 percent year-over-year to $3.22 billion, but data center chip sales are coming closer and closer as a 55 percent year-over-year growth pushed the revenue of this segment to $2.94 billion.
The figures translate to GAAP revenue of $2.46 billion, up 4 percent quarter-over-quarter and 84 percent year-over-year. Revenue was about $290 million higher than Wall Street consensus and non-GAAP earnings per share of $1.17 was a beat of 9 cents per share. For the current quarter, NVIDIA anticipates $7.4 billion revenue, plus or minus 2 percent.
NVIDIA today reported record revenue for the third quarter ended October 31, 2021, of $7.10 billion, up 50 percent from a year earlier and up 9 percent from the previous quarter, with record revenue from the company’s Gaming, Data Center and Professional Visualization market platforms.
GAAP earnings per diluted share for the quarter were $0.97, up 83 percent from a year ago and up 3 percent from the previous quarter. Non-GAAP earnings per diluted share were $1.17, up 60 percent from a year ago and up 13 percent from the previous quarter.
“The third quarter was outstanding, with record revenue,” said Jensen Huang, founder and CEO of NVIDIA. “Demand for NVIDIA AI is surging, driven by hyperscale and cloud scale-out, and broadening adoption by more than 25,000 companies. NVIDIA RTX has reinvented computer graphics with ray tracing and AI, and is the ideal upgrade for the large, growing market of gamers and creators, as well as designers and professionals building home workstations.
“Our GTC event series showcases the expanding universe of NVIDIA accelerated computing. Last week’s event was our most successful yet, highlighting diverse applications, including supply-chain logistics, cybersecurity, natural language processing, quantum computing research, robotics, self-driving cars, climate science and digital biology.
“Omniverse was a major theme at GTC. We showed what is possible when we can jump into virtual worlds. Omniverse will be used from collaborative design, customer service avatars and video conferencing, to digital twins of factories, processing plants, even entire cities. Omniverse brings together NVIDIA’s expertise in AI, simulation, graphics and computing infrastructure. This is the tip of the iceberg of what’s to come,” he said.
NVIDIA paid quarterly cash dividends of $100 million in the third quarter. It will pay its next quarterly cash dividend of $0.04 per share on December 23, 2021, to all shareholders of record on December 2, 2021.