Summary of Nvidia's Earnings Call for the Third Quarter ended October 29 2023

NVIDIA’s most recent earnings call was for the third quarter of fiscal year 2024, held on November 21, 2023. Here is a summary of the key highlights:

• Record revenue of $18.12 billion, up 206% from a year ago and up 34% from the previous quarter.
• Record data center revenue of $14.51 billion, up 41% from Q2, up 279% from year ago.
• Gaming segment revenue of $2.86 billion, up 81% from a year ago and higher than the $2.68 billion StreetAccount consensus.
• GAAP earnings per diluted share of $3.71, up more than 12x from a year ago and up 50% from the previous quarter. *Non-GAAP earnings per diluted share of $4.02, up nearly 6x from a year ago and up 49% from the previous quarter.

Jensen Huang, founder and CEO of NVIDIA, said that the company’s strong growth reflects the broad industry platform transition from general-purpose to accelerated computing and generative AI. He also said that the next waves of AI adoption are starting to build, with nations and regional cloud service providers investing in AI clouds to serve local demand, enterprise software companies adding AI copilots and assistants to their platforms, and enterprises creating custom AI to automate the world’s work.

NVIDIA is looking ahead to continued strong growth in the fourth quarter of fiscal year 2024, with revenue guidance of $20 billion. The company is also investing heavily in new products and technologies, including its next-generation data center GPU, the H100, and its Omniverse platform for real-time 3D collaboration.

Overall, NVIDIA is a strong company with a bright future. The company is well-positioned to benefit from the growth of the AI market, and it is investing heavily in new products and technologies that will help it maintain its leadership position.