Nvidia posts Q3 revenue at $3.01B, down 5% YoY

Thursday, 14. November 2019 22:23

Nvidia Corp. announced on Thursday its revenue for the third quarter in fiscal 2019 amounted to $3.01 billion, marking a decline of 5% compared to the same time period last year. At the same time, net income dropped 27% to stand at $899 million. Diluted earnings per share reached $1.45 in Q3, down 26% year-on-year. Operating expenses were increased 15% to $989 million while operating income fell 12% to $927 million.

The tech company said its GPU Business made a revenue of $2.57 billion, dipping 8% on an annual basis. Its Tegra Processor Business revenue reached a figure of $449 million, up 10% versus the same period last year. By market platform, the biggest revenue was recorded in the Gaming, which amounted to $1.66 billion, 6% lower year over year, followed by Datacenter revenue of $26 million, down by 8% year over year.

"Our gaming business and demand from hyperscale customers powered Q3's results," company chief executive Jensen Huang said. "This quarter, we have laid the foundation for where AI will ultimately make the greatest impact. We extended our reach beyond the cloud, to the edge, where GPU-accelerated 5G, AI and IoT will revolutionize the world's largest industries. We see strong data center growth ahead, driven by the rise of conversational AI and inference."

Nvidia shares were up 1.47% in the after-market trading after the financial report was published.

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