Nvidia’s third quarter results came in better than expected as the company beat the already soaring expectations placed at its feet, according to a highly anticipated earnings call.
Revenues for the quarter were $35.1 billion, up 94% from a year ago and a 17% increase from the previous quarter. Profits were $19.3 billion, an increase of 109% from the same time last year. Gross margins dipped slightly to 74.6% this quarter from 75.1% in the second quarter. Even that, though, was better than expected. UBS had forecasted a 200 basis point reduction in gross margin, according to analyst note from earlier this month.
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