NVIDIA released its earnings report for the third quarter (Q3) of 2024, revealing that it achieved record revenue in the period. The company earned US$35.1 billion in the last three months, 17% higher than the previous quarter.
The growth in income compared to the same period last year was an impressive 94%. This helps demonstrate how the hype for AI continues to heat up, and how NVIDIA continues to ride the crest of this wave.
“The AI era is in full swing, driving a global shift to NVIDIA computing,” said Jensen Huang, CEO of the company. “Demand for Hopper and anticipation for Blackwell – in full production – are incredible as foundation model builders scale pre-training, post-training, and inference.”
Thus, the overwhelming majority of income obviously came from its presence in data centers. In the segment, the company obtained US$30.8 billion in Q3 2024, a record number for the company. That’s an increase of another 17% in income from one quarter to the next, and growth of an incredible 112% year over year.
Games and PC account for less than 10% of NVIDIA’s revenue
The third quarter of 2024 also brought growth to the gaming area and AI PCs with NVIDIA hardware, but with much less impressive numbers. The segment generated US$3.3 billion in the period, an increase of 14% compared to Q2 this year and 15% more compared to the same quarter last year.
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The interpretation of the results in this segment, however, must pay attention to the GeForce RTX development cycle. We’re at the end of the RTX 40 generation, just weeks away from the reveal of the Blackwell-based RTX 50 series.
A cooling down in the search for already launched GPUs is expected while many buyers wait to see the new generation – either to buy a more modern graphics card, or in the hope of a price drop on previous ones.
Source: NVIDIA
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Source: https://www.adrenaline.com.br/nvidia/nvidia-conquista-renda-recorde-no-terceiro-trimestre-de-2024/
