Nvidia's Q3 earnings report: The company's revenue for the third quarter was $57 billion, a year-over-year increase of 62%.
TL;DR
Nvidia's Q3 revenue hit $57 billion, up 62% year-over-year, driven by strong AI chip sales. The company's optimistic Q4 forecast and CEO's positive remarks boosted its stock price.
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According to ChainCatcher, Nvidia (NVDA.O) has just released its Q3 financial results, with sales of its chips, which are at the heart of the artificial intelligence boom, growing faster than Wall Street expected. The company also gave a strong revenue forecast for the quarter, leading investors to believe that the AI investment frenzy will continue.
Its Q3 financial report shows that the company's revenue in the third quarter was $57 billion, a year-on-year increase of 62%. Among them, data center revenue was $51.2 billion, higher than the expected $49 billion. In addition, its revenue outlook for the fourth quarter is about $65 billion, far higher than the average analyst estimate of $61.6 billion.
Following the release of its earnings report, Nvidia's (NVDA.O) stock price rose more than 4% in after-hours trading. Nvidia CEO Jensen Huang stated, "Blackwell sales are phenomenal, and cloud GPUs are completely sold out." Previously, Huang had downplayed concerns about an AI bubble. (Jinshi)