The results have shattered Wall Street’s expectations.
It seems that the global chip shortage has somehow been avoided by NVIDIA. According to NVIDIA's new report, the company has managed to earn $7.1 billion in Q3 2021, which is 50% more than the results a year earlier.
The same report states that non-GAAP earnings per share of $1.17 on revenues of $7.1 billion are up 60% from EPS of $1.04 on revenue of $6.5 billion a year earlier. These great results have exceeded the expectations of Wall Street analytics.
“The third quarter was outstanding, with record revenue,” said Nvidia CEO Jensen Huang in a statement. “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.”
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