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NVIDIA announces Q3 2020 earnings



Today, NVIDIA announced the third quarter results for fiscal year 2020, and the company's results hit a hit compared to the third quarter 2019 with earnings of $ 3,014 billion in the quarter, down 5% on the previous year. Gross margin was up to a very healthy 63.6%, up 3.2% from a year ago. Operating revenues were down 12% to $ 927 million, with net income down 27% to $ 899 million. Earnings per share fell to $ 1.45, down 26% from $ 1.97 a year ago.

NVIDIA Q3 2020 Financial Results (GAAP)
Q3 & # 39; 2020 Q2 & # 39; 2020 Q3 & # 39; 201
9
Q / Q Y / Y
Revenue $ 3014M $ 2579M $ 3181M + 17% -5%
Gross Margin [19659010] 63.6% 59.8% 60 , 4% + 3.8% + 3.2%
Operating revenue $ 927M $ 571M $ 1058M +62% -12%
Net Income $ 899M $ 552M $ 1230M + 63% -27%
EPS $ 1.45 $ 0.90 $ 1.97 + 61% -26%

NVIDIA divides its business into two high-level categories, with GPU and Tegra. GPU revenue went down 8% to $ 2.565 million, while Tegra was up 10% to $ 449 million.

Distributing these to the markets, NVIDIA's gaming revenue dropped 6% to $ 1.659 billion, with NVIDIA attributing this to a decline in desktop GPU sales. A year ago, NVIDIA launched its Turing platform, which means that they are now one year into the newest platform, and sales were not as high as when it was launched. However, the sales decline of the desktop GPU was partially offset by increased portable GPUs as well as the gaming platform SoCs.

Professional Visualization set a record for revenue, up 6% from a year ago and reached $ 324 million. NVIDIA has stated that they have had a strong sale of mobile workstation products.

Data Center revenue was down 8% to $ 726 million. NVIDIA has had lower business revenues and sales of products with lower margins than some of their top-tier datacenter products, but this decline was partially offset by increased hyperscale demand.

Automotive revenues were down 6% to $ 162 million, with lower sales of autonomous vehicle solutions and older infotainment modules being highlighted, but growth in AI cockpit solutions helped dampen the decline.

Finally, OEM and other revenues were $ 143 million, down 3% from a year ago.

NVIDIA Quarterly Revenue Comparison (GAAP)
($ Million)
In Millions Q3 & # 39; 2020 Q2 & # 39; 2020 Q3 & # 39; 2019 Q / Q Y / Y
Gaming [19659009] $ 1659 [19659010] $ 1313 $ 1764 + 26% -6%
Professional Visualization $ 324 $ 291 $ 305 + 11% + 6%
Data Center $ 726 $ 655 $ 792 + 11% -8%
Automotive $ 162 [19659009] $ 209 $ 172 -22% -6%
OEM & IP $ 143 $ 111 $ 148 + 29% -3%

NVIDIA has experienced a major wave of success in recent years, and the company has diversified considerably, but in the last few quarters the company has seen something back to earth. But with strong margins, they invest heavily in R&D, with $ 53 million more spent in this quarter than a year ago, and for the first nine months of their fiscal year 2020, they've spent and a further $ 163 million to date, giving the total for 2020 to $ 400 million.

Looking forward to Q4, NVIDIA expects sales of $ 2.95 billion, plus or minus 2% with a gross margin of 64.1%, plus or minus 0.5%.

Source: NVIDIA Investor Relations [19659085]
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