What you need to know
- NVIDIA today reported $4.73 billion revenue during its fiscal year's third quarter.
- This is up 57% compared to last year at the same time.
- Record revenue in data center and gaming sectors helped drive numbers.
NVIDIA reported its 2020 Q3 financial results today, with a record $4.73 billion in revenue for the period. That breaks down to $2.91 non-GAAP earnings per share (EPS), coming in well above $1.78 EPS in Q3 of last year. This also beats Wall Street expectations, which had earnings around $2.58 per share and revenue of $4.41 billion for Q3.
This record revenue was driven heavily by gaming and data center revenue, each setting records in their own right. The gaming sector reported $2.27 billion revenue — a 37% boost compared to last year — while the data center reported $1.90 billion revenue, a whopping 162% boost compared to last year. NVIDIA CEO and founder Jensen Huang had this to say:
While the automotive sector is up 13% compared to last quarter, it's down 23% from the previous year. Professional visualization is also up 16% compared to last quarter, though it's down 27% compared to the previous year. That's not a big surprise, as the global temperature bodes far better for gamers and data centers than it does cars. Windows Central's Executive Editor Daniel Rubino was on the TD Ameritrade network earlier today to discuss NVIDIA earnings expectations.
🔔 $NVDA earnings after the bell 🔔#TheWatchList with @NPetallides ➡️ Dan Morgan and @Daniel_Rubino preview the report and share their respective outlooks for semiconductor stocks moving forward.
🖥️ $AMD $LRCX $MU $WDC $INTC🔔 $NVDA earnings after the bell 🔔#TheWatchList with @NPetallides ➡️ Dan Morgan and @Daniel_Rubino preview the report and share their respective outlooks for semiconductor stocks moving forward.
🖥️ $AMD $LRCX $MU $WDC $INTC— TD Ameritrade Network (@TDANetwork) November 18, 2020November 18, 2020
As mentioned, NVIDIA has been busy in the gaming sector, releasing RTX 30-series GPUs that make up our list of the best graphics card options, as well as supporting software like NVIDIA Reflex and NVIDIA Broadcast. The acquisition of Arm Limited by NVIDIA sets it up well to become a leader in AI computing, which will no doubt boost margins in the coming years.
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Cale Hunt is formerly a Senior Editor at Windows Central. He focuses mainly on laptop reviews, news, and accessory coverage. He's been reviewing laptops and accessories full-time since 2016, with hundreds of reviews published for Windows Central. He is an avid PC gamer and multi-platform user, and spends most of his time either tinkering with or writing about tech.