Nvidia Corp. Revenue Surges 1.6-Fold, Setting New Record

American graphics processor manufacturer Nvidia Corp. increased its net profit by 1.7 times and revenue by 1.6 times in the third fiscal quarter, setting a new revenue record.

In the quarter ended October 26, the company’s net income reached $31.91 billion, up from $19.31 billion a year earlier. Earnings per share rose to $1.30, compared to $0.78 in the same period last year. Adjusted earnings also came in at $1.30 per share.

Quarterly revenue grew to $57.01 billion, up from $35.08 billion, exceeding analysts’ expectations of $54.92 billion.

Revenue from the data center segment jumped 66% to a record $51.2 billion, surpassing market expectations of $49.09 billion. Meanwhile, gaming revenue increased by 30% to $4.3 billion.

According to Nvidia’s forecast, revenue for the current fiscal quarter is expected to reach $65 billion ±2%.

During the first nine months of the fiscal year, Nvidia returned $37 billion to shareholders through share buybacks and dividends. As of the end of the third quarter, the company had $62.2 billion allocated for share repurchases under its ongoing program.

The company will pay a quarterly dividend of $0.01 per share on December 26, with the record date set for December 4.