Nvidia announces Q3 financial results

SAN FRANCISCO, Nov. 20 (Xinhua) -- Nvidia on Wednesday reported revenue of 35.1 billion U.S. dollars for the third quarter ending Oct. 27, 2024, marking a 17-percent increase from the previous quarter and a 94-percent rise compared to the same period last year.

For the quarter, GAAP (generally accepted accounting principles) earnings per diluted share was 0.78 dollars, up 16 percent from the previous quarter and up 111 percent from a year ago. Non-GAAP earnings per diluted share was 0.81 dollars, up 19 percent from the previous quarter and up 103 percent from a year ago, the company said.

Nvidia's quarterly net income was 19.3 billion dollars, up 16 percent from the second quarter and up 112 percent from a year ago.

Its third-quarter revenue for Data Center was a record 30.8 billion dollars, up 17 percent from the previous quarter and up 112 percent from a year ago.

"The age of AI is in full steam, propelling a global shift to Nvidia computing," said Jensen Huang, founder and CEO of Nvidia. "Demand for Hopper and anticipation for Blackwell - in full production - are incredible as foundation model makers scale pretraining, post-training and inference."

"AI is transforming every industry, company and country. Enterprises are adopting agentic AI to revolutionize workflows. Industrial robotics investments are surging with breakthroughs in physical AI. And countries have awakened to the importance of developing their national AI and infrastructure," he said.

Nvidia will pay its next quarterly cash dividend of 0.01 dollars per share on Dec. 27, 2024, to all shareholders of record on Dec. 5, 2024.

Nvidia's outlook for revenue in the fourth quarter of fiscal 2025 is 37.5 billion dollars, plus or minus 2 percent. GAAP and non-GAAP gross margins are expected to be 73.0 percent and 73.5 percent, respectively, plus or minus 50 basis points.