Chip manufacturer Nvidia’s third-quarter revenue jumped 55% year-over-year to $7.1 billion, far exceeding analysts’ estimates of $6.82 billion. Its $6.51 billion haul in Q2 was a record at the time.
Nvidia’s biggest division — gaming — rose 42% to $3.2 billion in sales, largely attributed to sales of GeForce consumer graphics processors. The processors, released in Q2, are still in limited supply.
The strong report boosted the company past an $800 billion market cap — as of Thursday morning, its stock was up more than 124% year-to-date.
- Data center sales jumped 55% year-over-year to $2.9 billion.
- Automotive sales grew 8% year-over-year to $135 million.
- Its professional visualization product line rose 144% year-over-year to $577 million.
CNBC’s Jim Cramer is projecting Nvidia to be the next trillion-dollar company. The company expects to beat analysts’ revenue estimates ($6.86 billion) again this quarter, hitting $7.4 billion.
Earlier this week, Nvidia faced more scrutiny from U.K. regulators over its intended $40 billion acquisition of semiconductor and software company Arm, which was acquired by SoftBank for $31 billion in 2016.
British authorities launched a 24-week probe looking at national security risks and competition concerns.