NVIDIA NVDA Q3 2022 earnings beat revenue & EPS consensus estimates

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NVIDIA NVDA Q3 2022 earnings beat revenue & EPS consensus estimates

In an earnings call after results were announced, Chief Executive Officer (CEO) Jensen Huang said that the company has taken several steps to adjust to the global chip shortage. “We feel very good about our supply situation, particularly starting in the second half of next year and going forward,” he said. Nvidia said it has made moves to assure long-term supply agreements, including making $1.64 billion in advance payments in the third quarter. Nvidia expects its revenue for the fourth quarter of FY 2022 to be $7.4 billion, representing a growth rate of 47.9% YOY. During the third quarter of fiscal 2023, NVIDIA returned to shareholders $3.75 billion in share repurchases and cash dividends, bringing the return in the first three quarters to $9.29 billion.

  • Cloud providers and a broadening set of consumer Internet companies for workloads such as large language models, recommendation systems and generative AI.
  • Or should we expect a more perhaps delayed start of the growth trajectory where we see maybe substantially more growth in, let’s say, second half of ’23.
  • It will pay its next quarterly cash dividend of $0.04 per share on December 23, 2021, to all shareholders of record on December 2, 2021.
  • NVIDIA’s powerful performance is unique in Q3 in a world affected by issues of supply in terms of the semiconductor famine and shipping ports being congested, as noted by Tesla.
  • Global cars unveiled the all-new flagship Volvo EX90 SUV powered by the NVIDIA Drive platform.

You can use it to simulate factories, which is one of the early works that we done with BMW that I showed at GTC. That last one has to do with Edge AI, which was just made possible by putting AI right at the point of data and right at the point of action because you need to be low cost, you need to be high performance and instantly responsive. And you can’t afford to stream all of the data to the cloud all the time. And so each one of them has a slightly different [Technical Issues].

Key Financial Highlights

In the documentation, you talked about that being a portion of inventory on hand plus some purchase obligations. And you also spoke in your prepared remarks that some of this was due to China data centers. And then, in general, for your internal inventory.

  • And we also announced Omniverse is now available in the cloud.
  • Yes, we’re seeing also growth growth in terms of our networking, but you should look at our Q3 compute is about flatters with last quarter.
  • We set records for total revenue as well as for Gaming, Data Center and Professional Visualization.
  • Huang also said Nvidia’s supply constraints were easing and that the company’s supply of products would increase “substantially” in the second half of 2022.
  • Our new platforms are off to a great start and formed the foundation for our resumed growth.

And I bring it up because there’s a lot of blogs out there that would suggest that as much as you guys are trying to limit the ability of miners to use GeForce, there are some work-arounds. And if my [Indecipherable] the several platforms — the several elements of our platform, number one, Ampere GPU, which is known Universal GPU for AI, for training, but incredibly good for Inference. It’s terrific in its throughput, it’s terrific in its fast response time as well. And therefore, the cost of deployment, the cost of operating in AI applications is the lowest. Huang also said Nvidia’s supply constraints were easing and that the company’s supply of products would increase “substantially” in the second half of 2022. Nvidia’s graphics chips were in such high demand during the pandemic that they were selling for hundreds of dollars more than their retail prices.

I’m curious as we move forward, how do you think about the incremental operating gross margin upside still from here and how you’re thinking about the operating margin leverage for the company from here through the P&L. And then lastly, software inference server that we also call Triton, which supports every one of our GPUs, it supports GPUs as well as GPUs. So, every Internet Service Provider could operate their entire data center using Triton. These several things are really accelerating our growth, which is for the first element is the deployment of transition of deep learning AI applications into large-scale deployment. In nearly one year since we initially agreed to combine with Arm, we have gotten to know the company, its business and its people much better.

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The second is a server that allows the enterprise customers to deploy their AI models out to the edge. And the AI engine, the software suite that we’ve been developing over the last 10 years now have been integrated into this environment and allows the enterprises to basically run AI out of the box. There are three elements of our software products there. First is NVIDIA AI Enterprise, and that puts — that basically puts all of the state-of-the-art AI solvers and engines and libraries that we’ve industrialized and perfected over the years, made it available to Enterprise license. NVIDIA Inception, our acceleration platform for AI start-ups just surpassed 8,500 members. With cumulative funding of over $60 billion and numbers in 90 countries, Inception is one of the largest AI start-up ecosystems in the world.

And so that gives you a sense of the scale of AI models that people are developing. Thanks for the question on our overall mix as we go forward. First, our supply constraint in our gaming business is largely attributed to our desktop and notebook. That can mean a lot of different things from our components that are necessary to build so many of our products. Our mix, as we have also seen, many of our gamers very interested in our higher-end higher performance products.

So just any guidance or any just insights into how to think about NVIDIA’s enterprise software opportunity longer-term? NVIDIA has reported their Q earnings today and it was good news to say the least. The company’s quarterly report was stellar with products like NVIDIA AI and RTX GPUs out the door, for which demand is astronomically high in both areas. If NVIDIA is having issues with semiconductor resources, it also didn’t show up here. The company is booming and it lead to the report that it had achieved record revenue and a solid earnings-per-share (EPS) this last quarter, beating consensus estimates on both. Nvidia said it expects to report revenue of $8.1 billion in the first quarter, higher than analyst expectations of $7.29 billion.

So these three dynamics, disaggregated computing is really strong with fast networking, every company needing high performance computing, and lastly, software defined data centers following zero trust. And I appreciate the opportunity to tell you all that. And this is to the counter trend move tell how super exciting about the prospects of NVIDIA’s networking business and the importance that they have in building modern data centers. And the Mellanox networking business is really growing incredibly . There are three dynamics happening all at the same time.

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And it’s going to fuse all these different worlds together long-term. And you’ll be able to — you mentioned VR and AR, you’ll be able to go into the Omniverse worlds using virtual reality. And so you worm hole into the virtual world using VR. You could have an AI or an object portal into our world using augmented reality. So you could have a beautiful piece of art that you somehow purchased and belongs to you because of NT FTs and it’s only enjoyed in the virtual world and you can load into the physical world with AI.

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We achieved an important milestone this quarter with VMware. And whose leading server virtualization platform, vSphere, has been rearchitected over the last two years to run on DPUs and now supports our BlueField DPUs. These hotforex broker review are subject to a number of significant risks and uncertainties, and our actual results may differ materially. All our statements are made as of today, November 16, 2022, and based on information currently available to us.

NVIDIA (NVDA) Q3 2022 earnings beat revenue & EPS consensus estimates

The difference between NVIDIA’s InfiniBand, the entire software stack with what we call Magnum IO, which allows us to do computing in the network itself. A lot of software is running in the network itself, not just moving data around. We call it in-network computing because a ton of software is done at the edge at the — within the network itself. If you’re going to spend $20 billion on an infrastructure and the efficiency of that overall data center is improved by 10%.

NVDA earnings call for the period ending September 30, 2022.

So when we look at the data center products, a good portion of this was also the A100, which we wrote down. We also launched GeForce now on the new gaming devices, including Logitech, Cloud handheld, cloud gaming Chromebooks and Razor 5G Edge. Moving to Probi Revenue of $200 million was down 60% sequentially and down 65% from a year ago, reflecting lower sell-in to partners to help align channel inventory levels with the current demand expectations. Despite near-term fusion markets forex broker review challenges, we believe our long-term opportunity remains intact, fueled by AI simulation, computationally intensive design and engineering workloads. During the quarter, the U.S. government announced new restrictions impacting exports of our A100 and H-100 based products to China, and any product destined for certain systems or entities in China. These restrictions impacted third quarter revenue, largely offset by sales of alternative products into China.

Remember, I is the only company in the world that produces and ships semi-custom supercomputers in high volume. It’s a miracle to ship one supercomputer every three years. But our pro visualization business we think is going to be flattish and likely not growing as we’re still working on correcting the channel inventory levels. It’s very difficult to say which will have that increase. But again, we are planning for all three of those different market platforms to grow just a little bit.

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