Nvidia broke the internet when it became the most valuable company in the world. Not many people saw it coming, as Apple has dominated for years. Nvidia’s rise was surprising, and their last Q3 reports have added massively to that surprise. 

Q3 earnings for Nvidia were nothing short of massive. The AI company’s report beat all expectations for sales and earnings. Not only that, the company also delivered an optimistic forecast for the current Q4 quarter.

The tech giant beat LSEG analyst's expectations of 75 cents in earnings per share, racking up to 81 cents per share instead. The company also beat expectations in revenue by an impressive almost $4 billion. Compared to the LSEG analyst’s 33.16 billion, Nvidia made $35.08 billion in total revenue.

Moving forward to the current quarter, Nvidia has said that it is expecting even better figures than the last. The company says it expects about $37.5 billion plus or minus in Q4; however, analysts are expecting even higher. Polls from LSEG show that analysts expect $37.08 billion for the company and are obviously impressed by its past performance.

The forecast for Nvidia’s Q4 means that the company will record 70% year-to-year growth compared to last year's numbers. It also implies a slowdown from the 265% annual growth recorded in the same period last year. 

It’s currently a fascinating time at Nvidia as the company’s revenue keeps surging by an annual 94% in Q3, which ended on the 27th of October. This is still a consecutive slowdown from the previous three quarters in which the company’s sales went up 122%, 262%, and 265%, respectively. 

Needless to say, Nvidia has been one of the top beneficiaries of the AI boom we have witnessed in recent years. People and corporations can’t get enough of AI, and Nvidia has cashed in big on the demand. The company’s shares nearly tripled in 2024 alone as it became the most valuable publicly traded company. 

Nvidia’s data center business is perhaps one of the largest contributors to its massive earning success. The data center’s sales from AI processors and other similar AI components have made up the vast majority of the company’s impressive revenue. The data center also beat analysts’ expectations of $28.82 billion in revenue to make $30.8 billion. 

Nvidia’s gaming business is also doing great. It racked up $3.28 billion in revenue, compared to analysts' expectations of $3.03 billion. Similarly, the company’s automotive and professional visualization businesses also went up an impressive 72%.

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