Nvidia Q3 Earnings: It's a Very, Very Big Beat!

Nvidia Q3 Earnings: It’s a Very, Very Big Beat!


Nvidia Q3 earnings are out — It’s a beat!

Following Nvidia’s Q2 earnings report, which saw NVDA shares score the third largest gain in market cap in stock market history, the bar was set very high for this gaming-chip-turned-AI-king. Today, Nvidia surpassed those expectations, and bulls are likely very excited. Here are the numbers:

EPS: $2.70 vs $2.09 estimated
REV: $13.5 billion vs $11 billion estimated
GUIDANCE: Q3 $16 billion vs $12 billion estimated
ADJUSTED GROSS MARGINS: 70% (vs Intel at 40%)

Nvidia will also be buying back $25 billion dollars in shares.

Nvidia shares are currently trading higher by +8.56%, however it’s very early, and when we’re looking at earnings like these, it’s key to wait for the stock to settle before we make our full judgment about whether the Street liked the report or not. Still, here’s how Nvidia is looking right now:

This reaction has the SPY trading +0.39% after-hours, the QQQ trading +0.83% after hours, and the SMH trading +2.72% after hours.

We saw unusual options activity in Nvidia shares ahead of the report with bullish options targeted for this Friday — and these buyers spent a lot of money. They were right about the direction — now we get to see if they’ll be right about the strike.

Next, we’ll hear from CEO Jensen Huang, who will have more comments about Nvidia’s performance and future outlook.

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