World News – US – Nvidia sales and profits hit records with increasing video games and server chipsets

Nvidia Corp. The quarterly results blew previous estimates to record highs on Wednesday, with sales surpassing $ 4 billion for the first time as the chipmaker introduced new gaming cards and demand for the data center remained hot..

Nvidia
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It reported a third-quarter net income of $ 1. 34 billion, or $ 2. 12 per share, compared to $ 899 million, or $ 1. 45 shares in the same period last year. The adjusted earnings were $ 2. 91 shares for $ 1. 78 shares in the last quarter. Revenue increased to $ 4. $ 73 billion from $ 3. 01 billion in the last quarter.

The analysts polled by FactSet expected a profit of $ 2. 58 share of the yield of $ 4. 42 billion. Nvidia expected $ 4 in revenue. 31 billion to 4 dollars. 49 billion.

Nvidia introduced new gaming chips this quarter, building on a new design that was rolled out in its server chips the previous quarter, when data center sales outperformed game sales for the first time ever. The introduction of new game cards in September turned the momentum: game sales rose 37% to $ 2. 27 billion, while data center sales rose 162% to $ 1. 9 billion compared to the same period last year, which is also a record.

Analysts surveyed by FactSet expected sales of the games to reach $ 2. 06 billion. Data center sales $ 1. 84 billion.

Nvidia founder and CEO Jensen Huang said in a statement: « Nvidia is working on all cylinders, generating record revenues in games, the data center, and generally. ». . «  The new Nvidia GeForce RTX GPU delivers the biggest leap ever, generational demand is massive.

For the fourth quarter, Nvidia will likely set more records, expecting $ 4 in revenue.. $ 7 to $ 4. $ 9 billion, while analysts forecast $ 4 billion in revenue. 4 billion on average.

Stocks are down around 0. 3% in after-hours trading, after less than 0. 1% slight increase in the regular session, to close at $ 537. 15. Nvidia shares are up 128% this year, while the PHLX semiconductor index is up
SOX,
-0. 72%
Gained 37%, the S&P 500 Index
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-1. 15%
Nasdaq composite index rose 10%
COMP,
-0. 82%
Advanced 32%.

Warren Buffett’s Berkshire Hathaway has scaled back holdings in Apple in line with our estimates.. She has also started positions at pharmaceutical giants AbbVie, Pfizer and Merck. Berkshire Hathaway has also cut its investment in JPMorgan.

Wallace Whitkosky came to MarketWatch from the Associated Press in New York, where he was a business reporter specializing in pharmaceutical companies.. He has previously worked in commercial publications covering the pharmaceutical and medical device industry since 1998. Based in San Francisco, its focus is on U. s. Stocks. Follow Wali on Twitter at @wmwitkowski.

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Nvidia, Earnings, NASDAQ: NVDA