Nvidia boasts strong fiscal results
The data center business grew 162% to a record $1.90 billion
Stocks impacted: Nvidia (NVDA)
Nvidia Corp.’s quarterly results exceeded past estimates to set records as sales came in at more than the $4 billion milestone for the first time as the company rolled out new gaming cards and data-center demand stayed elevated. The data center business grew 162% to a record $1.90 billion for the quarter year-on-year. Revenue in its gaming division came in at $2.27 billion, up 37% from a year earlier. The chipmaker reported a third-quarter net income of $1.34 billion, or $2.12 a share, compared with $899 million, or $1.45 a share, in the year-ago period. Adjusted earnings arrived at $2.91 a share, compared with $1.78 a share in the year-ago quarter. Revenue rose to $4.73 billion from $3.01 billion in Q3 2019. For the fourth quarter, the company looks to set even more records, forecasting revenue of $4.7 billion to $4.9 billion. Nvidia stocks finished just marginally higher on Wednesday.
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