Nvidia lifts dividend after record revenues in Q3

Friday 10 November 2017 | 11:51 CET | News
Nvidia reported record revenues for its third quarter to 29 October, with growth coming from all platforms as industries around the world accelerate their adoption of AI. As a result of the strong quarter, the company has raised its quarterly cash dividend by 7 percent to USD 0.15 per share and said it intends to return USD 1.25 billion to shareholders in fiscal 2019. 

Revenues rose 32 percent from the year before to USD 2.64 billion, with earnings per share rising 60 percent to USD 1.33. The gross margin improved to 59.5 percent from 59.0 percent, while the net profit advanced over 50 percent to USD 838 million, from 542 million. The company had guided for revenues of USD 2.35 billion, plus or minus 2 percent, with a gross margin of around 58.6 percent.

Nvidia said it is well positioned for growth, with its Volta GPU “embraced” by every major internet and cloud service provider and computer maker. Meanwhile, the new TensorRT inference acceleration platform is opening up the company to growth in hyperscale data centres. The company noted continued success in gaming and of its Drive PX Pegasus for robotaxis. 

Looking towards its fiscal fourth quarter, Nvidia is guiding for revenues at USD 2.65 billion, plus or minus 2 percent, and a gross margin of 59.7 percent. 

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