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Nvidia beat the forecast for its third-quarter (Q3) earnings, leaping 94% year-on-year. It comes after a massive boom in the artificial intelligence (AI) industry, which Nvidia provides a vast majority of the chips for.
The AI and gaming chip company posted $35.08 billion for the quarter. This surpassed the expectations by $1.8 billion, as it was estimated to make $33.28B.
However, Nvidia is looking to a hopeful fourth quarter too. It said in its outlook section of the financial report, that it expects revenue to hit $37.5 billion, “plus or minus 2%”.
A vast majority of the revenue made in Q3 comes from its data center business. Of the revenue, $30.8 billion stems from Nvidia’s major push into providing chips and machines for AI and similar projects.
While its next-generation chips aren’t available just yet, Nvidia’s Blackwell hardware should give the company another major boost in revenue. Companies will begin to upgrade or provide it to their customers, fueling Team Green’s data center business further.
Nvidia’s gaming and robotics also see big growth
Up 14% was gaming revenue, earning $3.3 billion, which is also up 15% year-on-year. The company promised last year that it wouldn’t forget the gaming industry, and is expected to launch its RTX 50-series graphics cards (GPU) in the coming weeks and months.
Revenue shouldn’t falter that much for gaming. This is even with the current RTX 40-series GPUs reportedly stopping production as the company makes way for its incoming hardware.
Nvidia also posted that its automotive and robotics arm was up 30%, and its professional visualization had grown 17% year-on-year. They earned $449 million and $486 million respectively.
The stock dropped slightly after closing hours, hitting 145.89 USD at the time of writing, with less than a 2% drop.
Most recently, Nvidia overtook Apple to become the most valuable company in the world. Now, the company’s 2025 is also looking to be an explosive one. As mentioned above, its gaming arm is set to release the RTX 50-series, with a planned keynote at CES expected to be where it launches.
Featured image: Nvidia
