Nvidia, the chip company, has posted its financial results for the third quarter of this year, showing $4.7 billion in revenue and $1.3 billion in net income, a record for the company and its highest ever quarterly results since its inception. Revenue for the quarter was up 57% year-over-year while net income shot up 49%. 

Nvidia’s sales were buoyed by a wide increase in the demand for gaming and data center hardware products amid a coronavirus pandemic that widely drove up gaming and remote work activity and led to a much higher-than-normal need for the hardware used to power such services.

Revenue from Nvidia’s Data Center segment came at $1.9 billion during the quarter, up a whopping 162% year-over-year. Its Gaming segment pulled in $2.3 billion, up 37% from the previous year. On the other hand, revenue from Nvidia’s “Professional Visualization” segment fell 27% year-over-year to $236 million while “Automotive” revenue fell 23% year-over-year to $125 million.

During the quarter, Nvidia notably sealed its biggest acquisition ever by reaching a deal to purchase chip designer Arm Holdings in a $40 billion transaction from its owner SoftBank. The big acquisition is expected to be completed next year.

Photo: Nvidia CEO Jensen Huang | Nvidia

Share this...

Facebook

Pinterest

Twitter

Linkedin

Whatsapp

Email

Print