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NVIDIA (NASDAQ:NVDA) shares were up 3% after-hours following the company’s reported Q3 results, with revenue of $5.93 billion (down 17% year-over-year) coming in better than the consensus estimate of $5.8B. EPS was $0.58, compared to the consensus estimate of $0.71.
Q3 Data Center revenue was up 31% year-over-year to $3.83B. Gaming revenue grew 51% year-over-year to $1.57B.
“We are quickly adapting to the macro environment, correcting inventory levels and paving the way for new products,” said Jensen Huang, founder and CEO of NVIDIA.
The company expects Q4/23 revenue of $6B, below the consensus estimate of $6.09B. GAAP and non-GAAP gross margins are expected to be 63.2% and 66.0%, respectively, plus or minus 50 basis points.
