Nvidia Touts Data Center Growth as Q3 Results Top Estimates

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© Reuters. NVIDIA Earnings, Revenue Beat in Q3© Reuters. NVIDIA Earnings, Revenue Beat in Q3

Investing.com – Nvidia reported fiscal third-quarter results after the bell Thursday that topped expectations, led by strong demand in gaming. The chipmaker also offered an upbeat outlook on performance in its fast-growing data center business.

The company reported earnings per share of $1.78 on revenue of $3.01 billion. Analysts polled by Investing.com expected EPS of $1.58 on revenue of $2.92 billion. That compared to EPS of $1.97 on revenue of $3.18 billion in the same period a year earlier. The company had reported EPS of $1.24 on revenue of $2.58 billion in the previous quarter.

The chipmaker attributed the results to its gaming business, with CEO Jensen Huang saying demand from hyperscale customers powered third-quarter results.

Looking ahead, the company said strong sequential growth is expected in data center, offset by a seasonal decline in GeForce notebook GPUs and SoC modules for gaming platforms.

For the fiscal first quarter, the company forecast revenue of $2.95 billion, give or take 2%. That was short of estimates from S&P Capital IQ for $3.08 billion.

Shares were up about 1% in postmarket trading.

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