Nvidia has reported another blowout quarter as global demand for its microchips and semiconductors remains exceptionally strong.
The technology company announced earnings per share (EPS) for what was its fiscal third quarter of $4.02 U.S. per share versus $3.37 U.S. that was expected on Wall Street.
Nvidia’s revenue came in at $18.12 billion U.S. compared to $16.18 billion U.S. that was forecast. The company’s sales in the quarter more than tripled from a year earlier.
Nvidia also reported net income for fiscal Q3 of $9.24 billion U.S., or $3.71 U.S. a share, which was up 1,274% from $680 million U.S., or $0.27 U.S. per share, a year ago.
The company’s data center revenue increased 279% to $14.51 billion U.S., while its gaming segment saw sales rise 81% to $2.86 billion U.S. Both figures topped analysts' expectations.
In terms of forward guidance, Nvidia forecast $20 billion U.S. in revenue for the current fourth quarter, which implies 231% year-over-year growth.
However, Nvidia executives warned during an earnings call with media and investors that they expect a negative impact in the next quarter because of export restrictions placed on sales of its technology to China.
That said, Nvidia recently announced plans to send lower powered microchips to China that comply with U.S. laws and are not subject to export controls.
Additionally, Nvidia just launched its most powerful chip yet, the “GH200 GPU,” which has more memory than its current H100 chip and an additional processor. The company is already seeing huge demand for its new GH200 GPU microchip.
Meanwhile, the H100, which sells for $40,000 U.S. each, continues to drive sales at the company as it is used to power artificial intelligence (AI) applications.
Only a few years ago, Nvidia derived most of its revenue from the sale of its microchips to power video games and personal computers (PCs). Now, AI is the company’s main sales driver.
Nvidia’s stock has risen nearly 250% this year and currently trades at $499.44 U.S. per share.
