Nvidia reports record Q3 earnings on strong gaming and data center sales

Briefly: Nvidia reported document income of $7.10 billion for the third quarter ending October 31, 2021. The determine represents a 50 p.c enhance in comparison with the identical interval a yr in the past, a 9 p.c enhance quarter over quarter, and effectively above Wall Avenue expectations of $6.81 billion.

Earnings per share have been $1.17, in comparison with the $1.11 return that analysts have been anticipating.

Nvidia mentioned document income from its gaming, knowledge middle {and professional} visualization divisions was answerable for its spectacular quarter. Gaming accounted for $3.22 billion of the document haul, a rise of 42 p.c yr over yr. Nvidia’s knowledge middle enterprise, in the meantime, generated a wholesome $2.94 billion in income, up 55 p.c from the identical interval final yr.

Shares in Nvidia are up greater than 9 p.c on the information as of writing, and the corporate’s market cap has crossed the $800 billion mark for the primary time.

Waiting for the vacation quarter, Nvidia mentioned it expects income to be round $7.4 billion, plus or minus two p.c.

As we’ve seen with others within the gaming house as of late, stock shortages have confirmed to be the largest hurdle to much more spectacular numbers.

Scalpers proceed to scoop up {hardware} in droves, reselling gadgets like high-end video playing cards and recreation consoles on third-party marketplaces for large income. Main retailers aren’t serving to the matter both, as some insist on persevering with to solely promote {hardware} on-line, making it even simpler for scalpers’ bots to do their job. Ongoing part shortages and logistics points solely compound the problem.

Be the first to comment

Leave a Reply

Your email address will not be published.