NVIDIA beats by $0.06, beats on revs; guides Q4 revs in-line; demand for Blackwell expected to exceed supply for several quarters in FY26
4:24 PM ET 11/20/24 | Briefing.com
Reports Q3 (Oct) earnings of $0.81 per share, excluding non-recurring items, $0.06 better than the FactSet Consensus of $0.75; revenues rose 93.6% year/year to $35.08 bln vs the $33.15 bln FactSet Consensus.Data Center revenue was a record, up 112% from a year ago and up 17% sequentially. The strong year-on-year and sequential growth was driven by demand for Hopper computing platform for training and inferencing of large language models, recommendation engines, and generative AI applications.Completed a successful mask change for Blackwell, our next Data Center architecture, that improved production yields. Blackwell production shipments are scheduled to begin in the fourth quarter of fiscal 2025 and will continue to ramp into fiscal 2026.Both Hopper and Blackwell systems have certain supply constraints, and the demand for Blackwell is expected to exceed supply for several quarters in fiscal 2026.Gaming revenue was up 15% from a year ago and up 14% sequentially. These increases were driven by sales of our GeForce RTX 40 Series GPUs and game console SoCs.Professional Visualization revenue was up 17% from a year ago and up 7% sequentially. These increases were driven by the continued ramp of RTX GPU workstations based on our Ada architecture.Automotive revenue was a record, up 72% from a year ago and up 30% sequentially. These increases were driven by our self-driving platforms.Co issues in-line guidance for Q4 (Jan), sees Q4 revs of $37.5 bln, plus/minus 2%, implying $36.75-38.25 vs. $37.09 bln FactSet Consensus.GAAP and non-GAAP gross margins are expected to be 73.0% and 73.5%, respectively, plus or minus 50 basis points. |
