Nvidia Reports Q3 Earnings Beat

Nvidia Corporation 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.

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"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.