- Record revenue of $18.12 billion, up 34% from Q2, up 206% from year ago
- Record Data Center revenue of $14.51 billion, up 41% from Q2, up 279% from year ago
SANTA CLARA, Calif., Nov. 21, 2023 (GLOBE NEWSWIRE) -- NVIDIA (NASDAQ: NVDA) today reported revenue for the third quarter ended October 29, 2023, of $18.12 billion, up 206% from a year ago and up 34% from the previous quarter.
GAAP earnings per diluted share for the quarter were $3.71, up more than 12x from a year ago and up 50% from the previous quarter. Non-GAAP earnings per diluted share were $4.02, up nearly 6x from a year ago and up 49% from the previous quarter.
“Our strong growth reflects the broad industry platform transition from general-purpose to accelerated computing and generative AI,” said Jensen Huang, founder and CEO of NVIDIA.
“Large language model startups, consumer internet companies and global cloud service providers were the first movers, and the next waves are starting to build. Nations and regional CSPs are investing in AI clouds to serve local demand, enterprise software companies are adding AI copilots and assistants to their platforms, and enterprises are creating custom AI to automate the world’s largest industries.
“NVIDIA GPUs, CPUs, networking, AI foundry services and NVIDIA AI Enterprise software are all growth engines in full throttle. The era of generative AI is taking off,” he said.
NVIDIA will pay its next quarterly cash dividend of $0.04 per share on December 28, 2023, to all shareholders of record on December 6, 2023.
Q3 Fiscal 2024 Summary
| GAAP | |||||
| ($ in millions, except earnings
per share) |
Q3 FY24
|
Q2 FY24
|
Q3 FY23
| Q/Q | Y/Y |
| Revenue | $18,120 | $13,507 | $5,931 | Up 34% | Up 206% |
| Gross margin | 74.0% | 70.1% | 53.6% | Up 3.9 pts | Up 20.4 pts |
| Operating expenses | $2,983 | $2,662 | $2,576 | Up 12% | Up 16% |
| Operating income | $10,417 | $6,800 | $601 | Up 53% | Up 1,633% |
| Net income | $9,243 | $6,188 | $680 | Up 49% | Up 1,259% |
| Diluted earnings per share | $3.71 | $2.48 | $0.27 | Up 50% | Up 1,274% |
| Non-GAAP | |||||
| ($ in millions, except earnings
per share) | Q3 FY24 | Q2 FY24 | Q3 FY23 | Q/Q | Y/Y |
| Revenue | $18,120 | $13,507 | $5,931 | Up 34% | Up 206% |
| Gross margin | 75.0% | 71.2% | 56.1% | Up 3.8 pts | Up 18.9 pts |
| Operating expenses | $2,026 | $1,838 | $1,793 | Up 10% | Up 13% |
| Operating income | $11,557 | $7,776 | $1,536 | Up 49% | Up 652% |
| Net income | $10,020 | $6,740 | $1,456 | Up 49% | Up 588% |
| Diluted earnings per share | $4.02 | $2.70 | $0.58 | Up 49% | Up 593% |
