Nvidia: quarterly adjusted EPS up 593

(CercleFinance.com) - On Tuesday evening, Nvidia reported adjusted EPS of $4.
02 for its 3rd accounting quarter, up 593% on the same period a year earlier ($0.58). Meanwhile, adjusted net income came in at $10 billion, up 588% year-on-year.

The AI specialist saw its quarterly adjusted sales more than triple (+206%) to $18.1 billion, with an adjusted gross margin of 75% (up 18.9 points).

Adjusted operating profit was $11.5 billion (+652%), while operating expenses rose by 'only' 13%, to $2 billion.

' Our strong growth reflects the transition of the broad industrial platform from general-purpose computing to accelerated computing and generative AI', said Jensen Huang, Nvidia's founder and CEO.

' Major language model startups, consumer Internet companies and global cloud service providers were the first to jump on board. The era of generative AI is taking off', he added.

For the fourth quarter of its fiscal year, Nvidia is targeting sales of around $20 billion (with a margin of error of 2%, plus or minus) and an adjusted gross margin of 75.5%.

Copyright (c) 2023 CercleFinance.com. All rights reserved.