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NVIDIA (NVDA) Q3 2024 earnings results beat revenue & EPS expectations

The NVIDIA company put up record revenue for its latest quarter, posting an exceptional beat versus expectations.

TJ Denzer

November 21, 2023 2:25 PM

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The NVIDIA company is one of the recent companies to post its latest financial results for the quarter, and what a quarter it was. Having posted its Q3 2024 earnings results, NVIDIA also revealed that it achieved a record-setting revenue for the quarter. This was, of course, higher than expectations. NVIDIA’s earnings-per-share (EPS) also came in above all expectations, making for what looks like an overall outstanding fiscal quarter for the graphics and AI-focused tech company.

NVDIA posted its Q3 2024 earnings results in a press release on its investor relations website this week. In said results, the company achieved a revenue of $18.12 billion USD. That was around $2 billion over the $16.12 billion expectations of Wall Street analysts. As for EPS, the company put up a Non-GAAP earnings per diluted share of $4.02. The Whisper number called for $3.47 per share, while Wall Street was expecting $3.18 per share. It’s also worth noting that this was up around six times NVIDIA’s reported EPS in Q3 2023, which came in at $0.58 per share. It was also up 49 percent from Q2 2024.

Safe to say, NVIDIA overperformed against all expectations of the company. It’s fairly easy to see why as well. NVIDIA has still done well with its GPUs and gaming technology, bringing DLSS graphics technology to a wealth of new titles, the most recent notable one being Starfield. The company is also blazing the trail in artificial intelligence technology as the craze around it catches fire. Earlier this year, CEO Jensen Huang pointed out that “AI is at an inflection point,” and the company has made huge moves to be part of a large portion of it.

Between gaming and AI alone, NVIDIA appears fit for the future, but we’ll see if it can keep up the momentum in quarters ahead. For more financial reporting on NVIDIA and other companies reporting fiscal results, stay tuned to Shacknews for the latest news and updates.

TJ Denzer

Senior News Editor

TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at tj.denzer@shacknews.com and also find him on Twitter @JohnnyChugs.