NVIDIA records a revenue growth of 50% YoY – Q3 2021

NVIDIA (NASDAQ: NVDA) Corporation released its Q3 earnings report on Wednesday after the market closed. The tech company reported non-GAAP earnings of $1.17 per share with a revenue of $7.103 billion. It announced a non-GAAP net income of $2.973 billion.

Key Highlights

  • Record revenue of $7.10 billion, up 50 percent from a year earlier
  • Record Data Center revenue of $2.94 billion, up 55 percent from a year earlier
  • Record Gaming revenue of $3.22 billion, up 42 percent from a year earlier
  • 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.

CEO statement

The third quarter was outstanding, with record revenue. 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.

said Jensen Huang, founder and CEO of NVIDIA.

Analysts Estimate

EPS $1.11 per share

Revenue $6.83 billion, up by 44.5% compared to the same quarter last year.

Earnings History

NVIDIA reported record revenue for the second quarter ended August 1, 2021, of $6.51 billion, up by 15 percent from the same quarter a year ago. Its GAAP earnings per diluted share for the quarter were $0.94, up by 24 percent from the same quarter a year ago. Non-GAAP earnings per diluted share of the technology company were $1.04, up by 14 percent since the previous quarter. Record Gaming revenue generated by NVIDIA was $3.06 billion, up by 85 percent since last year.

NVIDIA paid quarterly cash dividends of $100 million in Q2. The second-quarter revenue generated by the company’s automotive sector was $152 million, up 37 percent from a year earlier and down 1 percent from the same quarter a year ago.

Future Plans

On November 15, Atos and NVIDIA announced the Excellence AI Lab (EXAIL) to advance climate and healthcare research with exascale computing. It also plans to build an Earth-2 Supercomputer to see our future.

NVIDIA FY22 Q3 earnings call live

Company Profile

NVIDIA Corporation is an American multinational technology company that designs graphics processing units for the gaming and professional markets. It also delves into building chip units for the automotive market and mobile computing. It is based in Santa Clara, California, United States, and has Jensen Huang as its CEO.

The technology company’s pioneering work in accelerated computing and AI is reshaping trillion-dollar industries, including transportation, healthcare, and manufacturing, and fueling the boom of many others.

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