Nvidia said it earned $19.31 billion in the quarter, more than double the $9.24 billion it posted in last year’s third quarter. Adjusted for one-time items, it earned $0.81 a share.
Nvidia earnings highlights
All numbers are in U.S. dollars.
- Nvidia (NVDA/NASDAQ): Earnings per share came in at $0.81 (versus $0.75 predicted), while revenues totalled $35.08 billion (versus $33.16 billion predicted).
Wall Street analysts on Nvidia’s reported earnings
Wall Street analysts had been expecting adjusted earnings of $0.75 a share on revenue of $33.17 billion, according to FactSet. Investors took the results in stride, however, and Nvidia’s high-flying stock slipped about 1% in after-hours trading. Shares in Nvidia Corp. are up 195% so far this year.
“The age of AI is in full steam, propelling a global shift to Nvidia computing,” Jensen Huang, founder and CEO of Nvidia, said in a statement.
Nvidia’s third-quarter data centre revenue was $30.8 billion, up 112% from a year ago. That growth was driven by demand for the Hopper computing platform for large language models, recommendation engines and generative AI applications, the company said.
Blackwell and Nvidia
Analysts’ were eyeing Nvidia’s guidance on its Blackwell graphics processor unit, a next-generation artificial intelligence chip that’s seen demand from companies like OpenAI and others building AI data centres.
Nvidia Chief Financial Officer Colette Kress said Blackwell production shipments are scheduled to begin in the fourth quarter of fiscal 2025 and will continue to ramp into fiscal 2026. On an earnings call Wednesday, Kress told investors that both Hopper GPU and Blackwell systems “have certain supply constraints, and the demand for Blackwell is expected to exceed supply for several quarters in fiscal 2026.”
“Every customer is racing to be the first to market,” Kress said. “Blackwell is now in the hands of all of our major partners, and they are working to bring up their data centres.”
The company, seen as a bellwether for AI demand, will deliver “more Blackwell than we have previously estimated” this quarter, Huang added.