Connect with us


Nvidia sales and revenue hit record highs as video games and server chips rise




Nvidia Headquarters in Santa Clara, California.

Getty Images

Quarterly results from Nvidia Corp. blew past estimates to record highs on Wednesday, with sales exceeding $ 4 billion for the first time as the chipmaker rolled out new gaming cards and demand from data centers remained high.

And the company expects game sales to keep that momentum going.

On the analyst call, Jensen Huang, Nvidias NVDA,
+ 0.04%
founder and managing director, said demand for the company’s new RTX 30 gaming card series is overwhelming.

This is going to be one of our most successful ramps to date, and it gives our install base of some 200 million GeForce players and more the best reason to upgrade in over a decade, said Huang on the call. And so it’s going to be a really big generation for us, I guess.

Nvidia launched new gaming chips in the quarter, based on a new design that rolled out in its server chips the previous quarter, when data center sales outperformed game sales for the first time. times. The rollout of new game cards in September turned the tide: game sales jumped 37% to a record $ 2.27 billion, while data center sales were up 8% from in the previous quarter rose 162% to $ 1.9 billion from the previous year, also a record. high.

Analysts polled by FactSet were forecasting game sales of $ 2.06 billion and data center sales of $ 1.84 billion.

Nvidia reported third-quarter net income of $ 1.34 billion, or $ 2.12 per share, compared to $ 899 million, or $ 1.45 per share, in the same period a year earlier. Adjusted earnings were $ 2.91 per share, compared to $ 1.78 per share in the last year quarter. Revenue climbed to $ 4.73 billion from $ 3.01 billion in the quarter last year.

Analysts polled by FactSet had forecast earnings of $ 2.58 per share on revenue of $ 4.42 billion. Nvidia had forecast revenue of $ 4.31 billion to $ 4.49 billion.

For the fourth quarter, Nvidia may have to set even more records, forecasting revenue of $ 4.7 billion to $ 4.9 billion, while analysts forecast revenue of $ 4.4 billion on average.

Given the third quarter results, Nvidia predicted that segment sales would go in opposite directions than Wall Street analysts expected.

We expect the game to increase sequentially during what is typically a seasonally down quarter as we continue to develop our new RTX 30 series products, said Colette Kress, CFO of Nvidias, during of the analysts call. We expect the data center to decline slightly from the third quarter.

Analysts had forecast $ 1.96 billion in fourth-quarter gaming revenue, which would equate to a 13% sequential decline and $ 1.93 billion in data center sales, a sequential increase of $ 1. 6%.

In games, Nvidia is taking advantage of more people staying home and playing, said Patrick Moorhead, senior analyst at Moor Insights and Strategy. I will be watching closely over the next quarter for impacts on competition and improvements due to the fall of major game titles.

Shares slipped about 3% in after-hours trading during the conference call, compared to 0.3% just before the call. Shares rose less than 0.1% in the regular session to close at $ 537.15. Shares of Nvidia are up 128% for the year, while the PHLX Semiconductor Index SOX,
gained 37%, the S&P 500 SPX index,
increased by 10% and the Nasdaq Composite Index COMP,
has grown 32% since the start of the year.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

picture credit


to request, modification Contact us at Here or [email protected]