Nvidia Posts Record Revenue in 3Q21
Nvidia had a record-breaking third quarter. Its revenue rose by 50 percent compared with the same period last year, while income grew 84 percent.
Revenue of $7.10 billion is up 50 percent from a year earlier and up 9 percent from the previous quarter, with record revenue from the company’s Gaming, Data Center, and Professional Visualization market platforms.
GAAP earnings per diluted share for the quarter were $0.97, up 83 percent from a year ago and up 3 percent from the previous quarter. Non-GAAP earnings per diluted share were $1.17, up 60 percent from a year ago and up 13 percent from the previous quarter.
Gross margin improved 2.6 percentage points GAAP and 1.5 percent Non-GAAP to 65.2 and 67 percent respectively. Operating income grew 91% (70% Non-GAAP) to $2.67 billion ($3.39 billion Non-GAAP.) Net income rose 84 percent (62 percent Non-GAAP) to $2.46 billion ($2.97 billion.)
“The third quarter was outstanding, with record revenue,” said Jensen Huang, founder, and CEO of NVIDIA. “Demand for NVIDIA AI is surging, driven by hyper-scale and cloud scale-out, and broadening adoption by more than 25,000 companies. NVIDIA RTX has reinvented computer graphics with ray tracing and AI, and is the ideal upgrade for the large, growing market of gamers and creators, as well as designers and professionals building home workstations.”
Huang highlighted virtual assistants as a future revenue opportunity, predicting the services will proliferate globally within five years. He noted that strong interest in Omniverse Avatar gave him the confidence of soon deriving revenue from the technology platform, which can be used to create virtual humans capable of understanding and speaking in natural language.