NVIDIA Announced Third Quarter Results

NVIDIA Announced Third Quarter Results

multinational technology company NVIDIA, thanks to the new generation of graphics cards and data centers, increased in revenue by 57 percent in 2020, compared to the previous year’s third quarter results. The company managed to gain $ 4.73 billion. NVIDIA released its report for the third fiscal quarter ending October 25th. According to the published report, the company increased its revenue by 57 percent compared to the same period of the previous year and earned 4.73 billion dollars in revenue. NVIDIA has managed to attract investors with their brand new graphics cards and artificial intelligence products. However, with a revenue of $ 2.91 per share, it exceeded expectations.

The company, whose non-GGAP earnings reached $ 1.78 per share a year ago, had a total revenue of $ 3.01 billion. The California-based hardware company seems to have achieved great success with the steps it took during the pandemic. Achieving solid revenues not only from graphics cards, but also from platforms such as artificial intelligence-supported products and cloud gaming service offered in large data centers, NVIDIA exceeded analysts’ expectations.

Behind this success of NVIDIA in the third quarter are the new generation graphics cards with RTX (Ray Tracing) technology. The new Nvidia RTX 3000 series graphics cards, which supports the PC world to be still stronger against the new generation consoles of Microsoft and Sony, seem to be appreciated by PC gamers. However, NVIDIA‘s data center revenue reached $ 1.9 billion, up 162 percent from the previous year. Game revenues increased by 37 percent to $ 2.27 billion. Earlier this year, NVIDIA purchased Mellanox, a key technology for chips used in data centers, for $ 7 billion. It seems NVIDIA will continue to maintain this success in the next quarter.