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Nvidia Reports Q3 Earnings Beat

Nvidia Corporation (NASDAQ: NVDA) reported third-quarter earnings of $2.91 per share on Wednesday, which beat the analyst consensus estimate of $2.57 by 13.23%. This is a 63.48% increase over earnings of $1.78 per share from the same period last year.

· 11/18/2020 16:33

Nvidia Corporation (NASDAQ:NVDA) reported third-quarter earnings of $2.91 per share on Wednesday, which beat the analyst consensus estimate of $2.57 by 13.23%. This is a 63.48% increase over earnings of $1.78 per share from the same period last year.

The company reported quarterly sales of $4.73 billion, which beat the analyst consensus estimate of $4.41 billion by 7.26%. This is a 56.93% increase over sales of $3.01 billion the same period last year.

The company sees fourth-quarter sales at $4.704 billion to $4.896 billion versus the $4.42 billion estimate.

See Also: How To Trade Nvidia Earnings Via Options

"Nvidia is firing on all cylinders, achieving record revenues in Gaming, Data Center and overall," said CEO Jensen Huang. "The new NVIDIA GeForce RTX GPU provides our largest-ever generational leap and demand is overwhelming. NVIDIA RTX has made ray tracing the new standard in gaming."

Nvidia's stock traded marginally lower at $536.10 per in Wednesday’s after-hours session. The stock has a 52-week range between $589.07 and $180.68.