NVIDIA (NVDA) Tops Q3 EPS by 13c, Revs Miss; Guides Revenues Well Below Views
NVIDIA (NASDAQ: NVDA) reported Q3 EPS of $1.84, $0.13 better than the analyst estimate of $1.71. Revenue for the quarter came in at $3.18 billion versus the consensus estimate of $3.24 billion.
"AI is advancing at an incredible pace across the world, driving record revenues for our datacenter platforms,” said Jensen Huang, founder and CEO of NVIDIA. “Our introduction of Turing GPUs is a giant leap for computer graphics and AI, bringing the magic of real-time ray tracing to games and the biggest generational performance improvements we have ever delivered.
“Our near-term results reflect excess channel inventory post the crypto-currency boom, which will be corrected. Our market position and growth opportunities are stronger than ever. During the quarter, we launched new platforms to extend our architecture into new growth markets – RAPIDS for machine learning, RTX Server for film rendering, and the T4 Cloud GPU for hyperscale and cloud.”
GUIDANCE:
Sees Q4 Revenue is expected to be $2.70 billion, plus or minus 2 percent. The consensus is $3.4 billion.
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