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Nvidia’s sales surpass £3 billion for the first time in fiscal Q3

by souhaib
November 19, 2020
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Nvidia Corp (NASDAQ: NVDA) reported its financial results for the fiscal third quarter on Wednesday that blew past Wall Street estimates. The company attributed its hawkish performance to robust data-centre demand and new gaming cards that it launched in recent months.

Shares of Nvidia slipped more than 2% in after-hours trading on Wednesday. On a year to date basis, Nvidia Corp is now more than 100% up – that might be of interest for you if you want to invest in the stock market.


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Nvidia’s Q3 financial results versus analysts’ estimates

It was the first time that Nvidia reported sales over £3 billion and expressed confidence that it will sustain the momentum in future quarters on the back of strong gaming sales. Nvidia said in an announcement in September that it had signed a definitive agreement to acquire a Cambridge-based semiconductor and software design company, Arm, for £31 billion.

The technology company said that its net income in the third quarter came in at £1.01 billion that translates to £1.60 per share. In the same quarter last year, its net income was capped at a lower £678.86 million or £1.09 per share.

On an adjusted basis, Nvidia earned £2.20 per share in Q3 versus the year-ago figure of £1.34 per share. In terms of revenue, the American multinational registered £3.57 billion in the third quarter as compared to £2.27 billion in Q3 of last year.

According to FactSet, experts had forecast the company to print £3.34 billion of revenue in the recent quarter. Their estimate for per-share earnings stood at £1.95.

Nvidia’s data-centre sales jumped 162% in the third quarter

At £1.71 billion, Nvidia’s gaming sales in the third quarter jumped 37%. Data-centre sales, on the other hand, posted a 162% annualised growth to £1.43 billion, after a 167% growth in the prior quarter (Q2). In comparison, FactSet Consensus for sales from these two segments stood at £1.56 billion and £1.39 billion, respectively.

The Santa Clara-based company also said on Wednesday that it now forecasts its revenue to fall in the range of £3.55 billion to £3.70 billion in the fiscal fourth quarter. Analysts, on the other hand, are calling for £3.32 billion of Q4 revenue for Nvidia on average.

At the time of writing, Nvidia is valued at £250.56 billion and has a price to earnings ratio of 98.49.



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