Nvidia recorded revenue of $4.73 billion in Q3 2020, a rise of 57% from the prior year and above Q2 revenues of $3.87, according to the company’s press release. Revenue growths were due to record gaming and data center sales.
- Q4 2020 Guidance
- Revenues of $4.8 billion plus or minus 2%, above the consensus $4.43 billion.
- Gross margin of 65.5% plus or minus 50 bps.
- Operating margin of $1.18 billion.
- Q3 2020 Highlights
- The company had a record Data Center revenue increase of 162% from the previous year to $1.90 billion, above consensus $1.8 billion.
- Gaming revenue was $2.27 billion, up 37% from the prior year, and above consensus $2.06%.
- Professional Visualization sales fell 27% year over year, but rose 16% in Q3 to $236 million, above estimated $215 million.
- Automotive sales declined 23% year over year but rose 13% quarter over quarter to $125 million due to the broad auto recovery.
- GAAP earnings per diluted share were $2.12, up 46% from $1.45 a year ago and a 114% increase from $0.99 the previous quarter.
- Gross margin rose from 64.1% to 65.5% year over year.
- Operating expenses rose 6% quarter over quarter and 42% year over year to $1.1 billion, in-line with consensus estimates.
Nvidia stock is currently declining. NVDA: NASDAQ is down 1.33%