Revenue increased to $57.0 billion in the third quarter from $35.08 billion in the prior-year period, benefitting from a 66% surge in Data Center revenues. The top-line exceeded Wall Street’s expectations.
Adjusted earnings, excluding one-off items, rose sharply to $1.30 per share in the third quarter from $0.81 per share a year earlier, beating estimates. On a reported basis, the company posted a net income of $31.9 billion or $1.30 per share for Q3, compared to $19.3 billion or $0.78 per share in the year-ago quarter.
Jensen Huang, CEO of NVIDIA, said, “compute demand keeps accelerating and compounding across training and inference — each growing exponentially. We’ve entered the virtuous cycle of AI. The AI ecosystem is scaling fast — with more new foundation model makers, more AI startups, across more industries, and in more countries. AI is going everywhere, doing everything, all at once.”