Nvidia Tops Q3 Estimates

NVIDIA (NVDA 12.27) reported third quarter earnings results after the close yesterday of $0.19 per share. After excluding non-recurring items, this was $0.09 better than the First Call consensus of $0.10.

Revenue rose 0.6% to $903.2 million, which was well above the $838.1 million consensus. The company's gross margins for the quarter were 41%, also well above consensus, which was 37.3%.

Looking ahead, the company issued upside guidance for the fourth quarter, saying it expects revenue to be up slightly, approximately 2%, from the third quarter, which equates to approximately $921.0 million vs. $868.11 million consensus.

The company said, "Revenue was up from a year ago, with improvement in each of our PC, professional solutions and consumer businesses. It's great to see us shipping orders with our Tegra mobile-computing solution, and growing enthusiasm for our Tesla platform for parallel computing in the server and cloud-computing markets."