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Nvidia’s (NVDA-0.86%) fiscal third quarter revenues beat Wall Street’s expectations for another straight quarter at a record $35.1 billion — up 94% from a year ago.
The chipmaker’s revenues for the quarter ended in October are up 17% from the previous quarter’s revenues of $30 billion. Nvidia reported net income of $19.3 billion, and earnings per share, or EPS, of $0.78.
“The age of AI is in full steam, propelling a global shift to NVIDIA computing,” Nvidia chief executive Jensen Huang said in a statement. “Demand for Hopper and anticipation for Blackwell — in full production — are incredible as foundation model makers scale pretraining, post-training and inference.”
Nvidia was expected to report revenues of $33 billion for the third quarter of fiscal year 2025, according to analysts’ estimates compiled by FactSet (FDS-1.46%). Net income was expected to be $17.4 billion and EPS was expected at $0.75.
Shares of the chipmaker were down 0.76% at the market close on Wednesday. Nvidia’s shares are up 202.86% so far this year.
The company’s data center quarterly revenue was $30.8 billion, up 17% from the previous quarter, and up 112% year over year.
Nvidia set its fiscal fourth quarter revenue guidance at $37.5 billion, plus or minus 2%. The company was expected to set fiscal fourth quarter guidance at $37.09 billion, according to FactSet estimates.
“To support the stock on earnings day,” Nvidia would have to report fiscal fourth quarter guidance of at least $38 billion, John Belton, portfolio manager at Gabelli Funds, said in comments shared with Quartz ahead of earnings.
On an earnings call with analysts, the company said that it shipped thirteen thousand Blackwell samples in the fiscal third quarter, and that the artificial intelligence platform is in full production.
In response to an analyst’s questions about reports of Blackwell overheating and Nvidia’s roadmap to produce AI chips on a one year cycle, Huang said that the company plans to deliver more Blackwells in the current quarter than previously estimated, and that “as you see from the systems being stood up at this point, Blackwell is in great shape.”
“We’re expecting to continue executing on that annual road map,” Huang said. “Everything is on track as far as I know.
Nvidia’s shares were down 3.47% during after-hours trading on Wednesday after it released its earnings results. The shares remained down by 1.2% later in the evening.
The chipmaker’s shares fell 6.9% in after-hours trading after it reported fiscal second quarter earnings in August. Nvidia had set fiscal fourth quarter revenue guidance at $32.5 billion, plus or minus 2% — slightly above the average analysts were expecting, but below top end estimates.
