NVIDIA today reported record revenue for the third quarter ended October 29, 2017, of $2.64 billion, up 32 percent from $2.00 billion a year earlier, and up 18 percent from $2.23 billion in the previous quarter, with growth across all its platforms. NVIDIA also said it will increase its dividend from 14 cents to 15 cents per share. NVIDIA shares have gained 2.23 percent in after-hours and that puts the stock at around $209.89.
“We had a great quarter across all of our growth drivers,” said Jensen Huang, founder and chief executive officer of NVIDIA. “Industries across the world are accelerating their adoption of AI.
Those are mighty impressive numbers and what is more shocking is what areas that NVIDIA is seeing growth in. If you look closer at the desktop discrete graphics card numbers, NVIDIA saw a 25% year-over-year increase to $1.56 billion, making up more than half of the company’s total revenue. NVIDIA must be delighted that cryptocurrency miners, mainly ethereum miners, bought up a ton of graphics cards to mine with earlier this year. The cryptocurrency crazy has slowed in recent months, but is still driving sales.
NVIDIA’s outlook for the fourth quarter of fiscal 2018 is revenues of $2.65 billion, plus or minus two percent.