NVIDIA has unveiled record revenue for its third quarter, with $57 billion. A look back at the incredible performance of the world leader in GPUs.
NVIDIA unveils its quarterly results
Having surpassed the $500 billion market capitalization mark last month, NVIDIA is seen as a barometer of the US economy, to such an extent that the market closely monitors each earnings release. On Wednesday, the computing giant published its latest quarterly figures, reporting record revenue of $57 billion for its third quarter, which ended on October 26. This represents a 22% increase compared to the previous quarter, but also a 62% increase compared to last year.
Over nine months, revenue amounted to nearly $148 billion, compared to just over $91 billion for the same period last year:
With earnings at $1.3 per diluted share, Jensen Huang, founder and CEO of NVDIA, hails sales of its new generation of GPUs:
Blackwell sales are skyrocketing and cloud GPUs are out of stock. Demand for computing power continues to grow and amplify, both for training and inference, with exponential growth. We have entered the virtuous circle of AI. The AI ecosystem is growing rapidly: more and more creators of fundamental models, specialized startups, in more sectors and countries. AI is everywhere, doing everything, simultaneously.
On Thursday, the news of these results gave the stock markets a bit of a boost, with NVDA shares up 2.85%, the S&P 500 closing up 0.38%, and the Nasdaq up 0.59%.
NVDA shares have corrected somewhat since their all-time high of $212 on October 29. Today, the stock is trading at $186.5, down 12%:
For the current quarter, the company now expects revenue of $65 billion, with a margin of error of 2%, which would be a new record.
