Nvidia’s Q3 revenues rise 57% to $4.73 billion as gaming and datacenters stay strong

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Nvidia reported revenues of $4.73 billion for its third fiscal quarter ended October 25, up 57% from a year earlier. The revenues and non-GAAP earnings per share of $2.91 a share beat expectations as new gaming hardware and AI products generated strong demand.
A year ago, Nvidia reported non-GAAP earnings per share of $1.78 revenues of $3.01 billion. Santa Clara, California-based Nvidia makes graphics processing units (GPUs) that can be used for games, AI, and datacenter computing. While many businesses have been hit hard by the pandemic, Nvidia has seen a boost in those areas.
Analysts expected Nvidia to post earnings of $2.57 a share on revenue of $4.41 billion.
During the quarter, Nvidia launched its 3000 series of GeForce RTX graphics cards with real-time ray tracing, helping the PC maintain its graphics competitiveness in the face of new gaming consoles from Microsoft and Sony. Our own Jeff Grubb said the new Nvidia graphics card was more exciting than the consoles.
Datacenter revenue was $1.9 billion, up 162% from a year earlier, while gaming revenues were $2.27 billion, up 37% from a year ago. While datacenter was bigger in the previous quarter, Nvidia’s gaming revenue was bigger this time.
Professional visualization was $236 million, down 27% from a year ago. Also down was automotive …

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