NVIDIA Corp. (NASDAQ: NVDA) Q3 2019 Earnings Call
Nvidia stock falls on Q3 revenue miss, weak guidance
November 15, 2018
Earnings of semiconductor giant Nvidia Corp. (NVDA) surged and topped estimates in the third quarter of 2019 when all the operating segments registered double-digit revenue growth. Meanwhile, total reported revenues and the outlook for the fourth quarter fell short of expectations, driving the company’s stock down 16% in the after-hours trading Thursday.
Adjusted earnings of the Santa Clara, California-based company climbed to $1.84 per share in the October quarter from $1.33 per share a year earlier, beating estimates. Reported profit was $1.23 billion or $1.97 per share, compared to $0.84 billion or $1.33 per share in the third quarter of 2018.
Revenues moved up 21% annually to $3.18 billion helped by a 58% growth in the Datacenter business, which reflected the robust demand for the company’s artificial intelligence solutions. The other segments – Professional Visualization, Gaming and Auto – also registered double-digit growth.
“Our market position and growth opportunities are stronger than ever. During the quarter, we launched new platforms to extend our architecture into new growth markets – RAPIDS for machine learning, RTX Server for film rendering, and the T4 Cloud GPU for hyperscale and cloud,” said CEO Jensen Huang.