By Yasin Ebrahim
Investing.com - Nvidia (NASDAQ:NVDA) reported on Wednesday third-quarter results that topped expectations, led by record revenues in its gaming and data center businesses.
Nvidia announced earnings per share of $2.91 on revenue of $4.73 billion. Analysts polled by Investing.com anticipated EPS of $2.57 on revenue of $4.41 billion.
Data center revenue had surpassed gaming revenue for the first time ever in Q2, but there was no repeat of that in the third quarter.
The data center business grew 162% to a record $1.90 billion for the quarter year-on-year. Its gaming division generated third-quarter revenue of $2.27 billion, up 37% from a year earlier.
“NVIDIA is firing on all cylinders, achieving record revenues in Gaming, Data Center and overall,” said Jensen Huang, founder and CEO of the company. “The new NVIDIA GeForce RTX GPU provides our largest-ever generational leap and demand is overwhelming."
Looking ahead to the fourth quarter, the company expected to generate revenue of $4.80 billion, give or take 2%.
The chipmaker said it expected to seal the acquisition of Arm in Q1 2022.
"During the third quarter, NVIDIA announced a definitive agreement to acquire Arm Limited from SoftBank Capital Limited and SVF Holdco (UK) Limited in a transaction valued at $40 billion. The transaction will combine NVIDIA’s leading AI computing platform with Arm’s vast ecosystem to create the premier computing company for the age of AI."