NVIDIA Announces Financial Results for Third Quarter Fiscal 2025

[Nomad76]

NVIDIA today reported revenue for the third quarter ended October 27, 2024, of $35.1 billion, up 17% from the previous quarter and up 94% from a year ago. For the quarter, GAAP earnings per diluted share was $0.78, up 16% from the previous quarter and up 111% from a year ago. Non-GAAP earnings per diluted share was $0.81, up 19% from the previous quarter and up 103% from a year ago.

"The age of AI is in full steam, propelling a global shift to NVIDIA computing," said Jensen Huang, founder and CEO of NVIDIA. "Demand for Hopper and anticipation for Blackwell—in full production—are incredible as foundation model makers scale pretraining, post-training and inference.



"AI is transforming every industry, company and country. Enterprises are adopting agentic AI to revolutionize workflows. Industrial robotics investments are surging with breakthroughs in physical AI. And countries have awakened to the importance of developing their national AI and infrastructure," he said.

NVIDIA will pay its next quarterly cash dividend of $0.01 per share on December 27, 2024, to all shareholders of record on December 5, 2024.

Outlook
NVIDIA's outlook for the fourth quarter of fiscal 2025 is as follows:

• Revenue is expected to be $37.5 billion, plus or minus 2%.
• GAAP and non-GAAP gross margins are expected to be 73.0% and 73.5%, respectively, plus or minus 50 basis points.
• GAAP and non-GAAP operating expenses are expected to be approximately $4.8 billion and $3.4 billion, respectively.
• GAAP and non-GAAP other income and expense are expected to be an income of approximately $400 million, excluding gains and losses from non-affiliated investments and publicly-held equity securities.
• GAAP and non-GAAP tax rates are expected to be 16.5%, plus or minus 1%, excluding any discrete items.

Highlights
NVIDIA achieved progress since its previous earnings announcement in these areas:

Data Center

• Third-quarter revenue was a record $30.8 billion, up 17% from the previous quarter and up 112% from a year ago.
• Announced the availability of NVIDIA Hopper H200-powered instances in several cloud services, including AWS, CoreWeave and Microsoft Azure, with Google Cloud and Oracle Cloud Infrastructure coming soon.
• Launched Denmark's largest sovereign AI supercomputer, an NVIDIA DGX SuperPOD driven by 1,528 NVIDIA H100 Tensor Core GPUs and interconnected using NVIDIA Quantum-2 InfiniBand networking.
• Introduced the NVIDIA AI Aerial platform for telecommunications providers and began working with T-Mobile, Ericsson and Nokia to accelerate the commercialization of AI-RAN.
• Announced that SoftBank Corp. is building Japan's most powerful AI supercomputer with the NVIDIA Blackwell platform and has successfully piloted the world's first combined AI and 5G telecom network using NVIDIA AI Aerial.
• Revealed that cloud leaders in India, Japan and Indonesia are building AI infrastructure with NVIDIA accelerated computing, while consulting leaders are helping speed AI adoption across industries with NVIDIA AI Enterprise software.
• Accelerated xAI's Colossus supercomputer cluster, using 100,000 NVIDIA Hopper GPUs, with the NVIDIA Spectrum-X Ethernet networking platform.
• Unveiled a partnership with Foxconn to build Taiwan's fastest AI supercomputer with NVIDIA Blackwell.
• Announced that Blackwell debuted on MLPerf Training, completed all tests and delivered up to 2.2x performance gains on large language model benchmarks.
• Contributed foundational elements of the NVIDIA Blackwell design to the Open Compute Project and broadened NVIDIA Spectrum-X support for OCP standards.
• Revealed that U.S. technology companies including Accenture, Deloitte and Google Cloud are tapping NVIDIA AI software to create custom AI applications, transforming industries worldwide.
• Announced the expansion of a partnership with Lenovo to launch new hybrid AI solutions and systems optimized to run NVIDIA AI Enterprise software.

Gaming and AI PC

• Third-quarter Gaming revenue was $3.3 billion, up 14% from the previous quarter and up 15% from a year ago.
• Celebrated the 25th anniversary of GeForce 256, the world's first GPU, which marked a breakthrough for gaming and laid the foundation for an AI-driven future.
• Demonstrated NVIDIA ACE and digital human technologies in Mecha BREAK, featuring the Minitron 4B model for better in-game character responses, at Gamescom.
• Introduced 20 GeForce RTX and DLSS titles, including Indiana Jones and the Great Circle and Dragon Age: The Veilguard.
• Began shipping new RTX AI PCs with 321 AI trillion operations per second of performance from ASUS and MSI, with Microsoft Copilot+ capabilities anticipated next quarter.

Professional Visualization

• Third-quarter revenue was $486 million, up 7% from the previous quarter and up 17% from a year ago.
• Announced that Foxconn is using digital twins and industrial AI built on NVIDIA Omniverse to bring online faster three factories used to manufacture NVIDIA GB200 Grace Blackwell Superchips.
• Revealed that leading industrial manufacturers in India, including Reliance and Ola Motors, and Japan, including Toyota, Yaskawa, and Seven and I Holdings, are using NVIDIA AI and Omniverse to automate workflows and drive more efficient operations.
• Unveiled NVIDIA Holoscan for Media, an AI-enabled, software-defined platform that allows live media and video pipelines to run on the same infrastructure as AI, enhancing production delivery.

Automotive and Robotics

• Third-quarter Automotive revenue was $449 million, up 30% from the previous quarter and up 72% from a year ago.
• Revealed that Volvo is releasing a new electric SUV built on NVIDIA accelerated computing.
• Introduced Project GR00T AI and simulation tools for robot learning and humanoid development, and new generative AI tools and perception workflows for robotics developers.
• Announced that Japanese and Indian companies including Toyota and Ola Motors are using NVIDIA Isaac and Omniverse to build the next wave of physical AI.

View at TechPowerUp Main Site | Source

 

[oxrufiioxo]

Nvidia right now....

 

[csendesmark]

ADVICE FROM CEO'S on Instagram: "Jensen Huang gave Masayoshi Son a little nudge about that one time he let go of his NVIDIA stake, which would now be worth a whopping $160 billion! Bet that stings a bit. . . . . . . . . . . . . . . . . . . #success

132K likes, 308 comments - advicefromceo.s on November 15, 2024: "Jensen Huang gave Masayoshi Son a little nudge about that one time he let go of his NVIDIA stake, which would now be worth a whopping $160 billion! Bet that stings a bit. . . . . . . . . . . . . . . . . . . #success #entrepreneur...

www.instagram.com

Oh, well - they will survive this somehow.

 

[Philaphlous]

I still feel bad for selling my AMD stock at ~$7/share when I bought it for ~$2/share or something about 10-15 years ago... I think I'd have a Tesla or two with just those shares alone...prob have my house paid off also...

 

[nguyen]

3.3 bil revenue in gaming segment, and it was up compared to Q2. PCMR is winning so much

 

[erek]

2025?

 

[Bwaze]

2025?

View attachment 372681

Yeah, that's correct, Nvidia trolls everyone with their naming scheme of reports.


"Gaming and AI PC

Third-quarter Gaming revenue was $3.3 billion, up 14% from the previous quarter and up 15% from a year ago"

Notice how there is no Gaming alone any more. We will have no idea what Nvidia counts here - not that it was very relevant before, but they really have a completely free pick to shift revenues, incomes as they see fit.

Why would a gaming card generation generate record growth at the very end of it's life? Why would Nvidia even bother with releasing next generation?

 

[Visible Noise]

AMD gaming revenue including consoles - $462M
Nvidia without consoles 7x AMD.

AMD total revenue - $6.8B
Nvidia gaming only revenue - Nearly half of AMD‘s total revenue.

AMD profit from gaming - $12M
Nvidia profit from gaming - 100x AMD

Nvidia is one of the best run companies in the world. Jensen knew exactly what he was doing when he said NO to Microsoft and Sony.

2025?

View attachment 372681

Yes. Every freaking time there’s someone who doesn’t know what a fiscal year is. They teach this in high school business class. You should have learned this when you were 14 years old.

 

[Bwaze]

Yes. Every freaking time there’s someone who doesn’t know what a fiscal year is. They teach this in high school business class. You should have learned this when you were 14 years old.

Most of the companies don't label this year's reports as "fiscal year 2025", so you can step down your high horse.

 

[Visible Noise]

Most of the companies don't label this year's reports as "fiscal year 2025", so you can step down your high horse.

Educate thyself

Fiscal year - Wikipedia

en.wikipedia.org

”Laws in many jurisdictions require company financial reports to be prepared and published on an annual basis but generally with the reporting period not aligning with the calendar year”

 

[Bwaze]

Educate thyself

Fiscal year - Wikipedia

en.wikipedia.org

”Laws in many jurisdictions require company financial reports to be prepared and published on an annual basis but generally with the reporting period not aligning with the calendar year”

"The calendar year is used as the fiscal year by about 65% of publicly traded companies in the United States and for most large corporations in the United Kingdom."

"Fiscal years' names are often shortened based on the year in which they end; for example, "fiscal year 2023-2024" and "FY24" are synonymous."

Nowhere it states that it is mandatory to denote current fiscal year with the date where it ends, just that it is "often" shortened from full label (Fiscal year 2024 - 25) to just the ending number. But as we have seen, most companies just use calendar year anyway. So the most common, and of course the most logical way, is to use calendar year, especially in communicating to general public - as most other companies do, regardless of which labeling they use internally.

 

[R0H1T]

I heard this first in middle school, albeit not during the classes.

So the most common, and of course the most logical way, is to use calendar year, especially in communicating to general public - as most other companies do, regardless of which labeling they use internally.

No, most companies use fiscal year, almost always, especially if they're listed on exchanges.

The fiscal year starts April here; it starts in October for the US IIRC.

 

[Bwaze]

I heard this first in middle school, albeit not during the classes.

No, most companies use fiscal year, almost always, especially if they're listed on exchanges.

The fiscal year starts April here; it starts in October for the US IIRC.

It's hard to use "ALWAYS" if the first results I look don't use it.

Intel Reports Third-Quarter 2024 Financial Results​

Press Release by Nomad76 Oct 31st, 2024 21:36

AMD Reports Third Quarter 2024 Financial Results, Revenue Up 18 Percent YoY​

Press Release by GFreeman Oct 29th, 2024 16:49


"The fiscal year starts April here; it starts in October for the US IIRC."

And as far as I know, Nvidia's Fiscal Year starts in January, first Quarter is from January to April. But yeah, it doesn't start on January 1., but on January 28.

Or are they Fiscal Months?

 

[R0H1T]

Maybe it's just a US thing? Admittedly, I don't really follow the results outside the tech sector. It probably also has to do with accounting; here you need to have to follow the government fiscal year.

Or are they Fiscal Months?

That's just JHH double-dipping on poor old gamers

 

[Bwaze]

It's really a mess, when people create graphs of Nvidia's revenues or other data they often confuse the Fiscal Year with the actual date, so they wonder then why there's no correlation between cryptomadness or release of the new popular GPU generation and Nvidia's income, all they see is the sudden surge a year later. :-D

 

[Vayra86]

It's hard to use "ALWAYS" if the first results I look don't use it.

Intel Reports Third-Quarter 2024 Financial Results​

Press Release by Nomad76 Oct 31st, 2024 21:36

AMD Reports Third Quarter 2024 Financial Results, Revenue Up 18 Percent YoY​

Press Release by GFreeman Oct 29th, 2024 16:49


"The fiscal year starts April here; it starts in October for the US IIRC."

And as far as I know, Nvidia's Fiscal Year starts in January, first Quarter is from January to April. But yeah, it doesn't start on January 1., but on January 28.

Or are they Fiscal Months?

Those headlines do say 'third quarter 2024'
It does not mention fiscal years. It mentions quarterly results, and obviously those quarters aren't coming from the future.

Maybe it's just a US thing? Admittedly, I don't really follow the results outside the tech sector. It probably also has to do with accounting; here you need to have to follow the government fiscal year.

Exactly, what you do in 2024 is on your tax report filed in 2025, that's an easy way to work around this in our heads (or remember why FY deviates from the actual year).

But honestly I think at its core its not a question of logic, its just humans trying to be special. There's really no reason to not just adopt the same systems, the only reason we don't want to, is because we don't want to. Same with metric/imperial. Or driving on the left... Some call it culture, I guess.

I work with insurance companies a lot... its hilarious the amount of terminology that exists in ONE company for ONE product they all know and work with. Just for all risk-coverage on a car insurance there are easily six different words in the company, and I'm certain someone will devise a seventh at some point. Its awesome when you're working on requirements documents/analysis. 'What do you want to have' 'I'll have this, which could also be called that... or that, except the terminology overlaps with a half dozen other things at that point'.

If you ever wondered why your insurance premium keeps going up... see above lol. The amount of waste of time due to incompetence is mind blowing.

 

[Bwaze]

Those headlines do say 'third quarter 2024'
It does not mention fiscal years. It mentions quarterly results, and obviously those quarters aren't coming from the future.

"The company also previously announced its intent to operate Altera as a standalone business beginning in the first quarter of 2024. Altera was previously included in DCAI's segment results. As a result of these changes, the company modified its segment reporting in the first quarter of 2024 to align to this new operating model. All prior-period segment data has been retrospectively adjusted to reflect the way the company internally receives information and manages and monitors its operating segment performance starting in fiscal year 2024."

I think they don't complicate and they have calendar and fiscal year label equated. It doesn't matter that the tax for 2024 will probably be filed in 2025.

 

[Vayra86]

"The company also previously announced its intent to operate Altera as a standalone business beginning in the first quarter of 2024. Altera was previously included in DCAI's segment results. As a result of these changes, the company modified its segment reporting in the first quarter of 2024 to align to this new operating model. All prior-period segment data has been retrospectively adjusted to reflect the way the company internally receives information and manages and monitors its operating segment performance starting in fiscal year 2024."

I think they don't complicate and they have calendar and fiscal year label equated. It doesn't matter that the tax for 2024 will probably be filed in 2025.

Not sure, reading this ^
But its a given that the FY 24 also leads into a part of the FY25. They never align with the January. So you could start in FY24 and still have a FY24-25 report, pick a number.

But that's the thing, there's no rhyme or reason to it, just pick one

 

[Bwaze]

Yeah, you need to look at how individual company labels it's reports, there are no rules that "everyone should know if they are older than 14 years".

 

[ThomasK]

AI has been used 31 times in this post.

 

[Bwaze]

And it will be mentioned many, many more times.

Nvidia sets up new social media channel to showcase AI applications for RTX PCs, intensifying speculation around a looming gaming CPU launch

It's not like crypto where they were a bit ashamed that they're catering to it. CES 2025 Nvidia keynote will be fully about how "cards formerly known as Gaming" can be utilized to "do the AI".

 

[nguyen]

man do we have some bot here getting jealous of AI

 

[TheinsanegamerN]

I still feel bad for selling my AMD stock at ~$7/share when I bought it for ~$2/share or something about 10-15 years ago... I think I'd have a Tesla or two with just those shares alone...prob have my house paid off also...

I feel the same, bought AMD at $8 and sold at $55. Paid for my new gaming PC tho.....

 

[mrnagant]

AMD gaming revenue including consoles - $462M
Nvidia without consoles 7x AMD.

Nintendo Switch

 

[Legacy-ZA]

So, who thinks the leather jacket will throw us a bone on the RTX5000 series?

I wonder sometimes, if people actually realize, just, how, much, money that is. What do you even do with so much?