SANTA CLARA, Calif., Nov. 14, 2019 (GLOBE NEWSWIRE) -- NVIDIA (NASDAQ: NVDA) today reported revenue for the third quarter ended Oct. 27, 2019, of $3.01 billion compared with $3.18 billion a year earlier and $2.58 billion in the previous quarter.
GAAP earnings per diluted share for the quarter were $1.45, compared with $1.97 a year ago and $0.90 in the previous quarter. Non-GAAP earnings per diluted share were $1.78, compared with $1.84 a year earlier and $1.24 in the previous quarter.
“Our gaming business and demand from hyperscale customers powered Q3’s results,“ said Jensen Huang, founder and CEO of NVIDIA. “The realism of computer graphics is taking a giant leap forward with NVIDIA RTX.
“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 will pay its next quarterly cash dividend of $0.16 per share on Dec. 20, 2019, to all shareholders of record on Nov. 29, 2019.
The company will return to repurchasing its stock after closing the acquisition of Mellanox Technologies, Ltd. Although discussions with the European Union and China regulatory bodies are progressing and closing the acquisition is possible by the end of this calendar year, the company believes the closing will likely occur in the early part of calendar 2020.
Q3 Fiscal 2020 Summary
| GAAP | ||||||||||||||
|
($ in millions, except
earnings per share) | Q3 FY20 | Q2 FY20 | Q3 FY19 | Q/Q | Y/Y | |||||||||
| Revenue | $3,014 | $2,579 | $3,181 | Up 17% | Down 5% | |||||||||
| Gross margin | 63.6% | 59.8% | 60.4% | Up 380 bps | Up 320 bps | |||||||||
| Operating expenses | $989 | $970 | $863 | Up 2% | Up 15% | |||||||||
| Operating income | $927 | $571 | $1,058 | Up 62% | Down 12% | |||||||||
| Net income | $899 | $552 | $1,230 | Up 63% | Down 27% | |||||||||
| Diluted earnings per share | $1.45 | $0.90 | $1.97 | Up 61% | Down 26% | |||||||||
| Non-GAAP | ||||||||||||||
|
($ in millions, except
earnings per share) | Q3 FY20 | Q2 FY20 | Q3 FY19 | Q/Q | Y/Y | |||||||||
| Revenue | $3,014 | $2,579 | $3,181 | Up 17% | Down 5% | |||||||||
| Gross margin | 64.1% | 60.1% | 61.0% | Up 400 bps | Up 310 bps | |||||||||
| Operating expenses | $774 | $749 | $730 | Up 3% | Up 6% | |||||||||
| Operating income | $1,156 | $802 | $1,210 | Up 44% | Down 4% | |||||||||
| Net income | $1,103 | $762 | $1,151 | Up 45% | Down 4% | |||||||||
| Diluted earnings per share | $1.78 | $1.24 | $1.84 | Up 44% | Down 3% | |||||||||
