NVIDIA (NVDA) Stock Adds 3% on Record Q3 Revenue and Better Than Expected Guidance
NVIDIA (NASDAQ: NVDA) shares were trading more than 3% higher after-hours, following the company’s reported Q3 results, with EPS coming in at $1.17, better than the consensus estimate of $1.11. The company delivered a record quarterly revenue of $7.1 billion (up 50% year-over-year), beating the consensus estimate of $6.83 billion. Data Center revenue grew 55% year-over-year to $2.94 billion, and Gaming revenue grew 42% to $3.22 billion. Both Data Center and GAming were also both records.
The company anticipates Q4 revenue of $7.4 billion, which is higher than the consensus estimate of $6.86 billion.
"Demand for NVIDIA AI is surging, driven by hyperscale and cloud scale-out, and broadening adoption by more than 25,000 companies," CEO Jensen Huang "outstanding" quarter.