• Data center revenue was $38.3 billion, up 31% from the same period last year and up 1% from the previous quarter.
• Quarterly payments to shareholders amounted to $37.5 billion.

Santa Clara, California——Pacific Time2022年11月16日——NVIDIA Corporation (NASDAQ: NVDA) announced that revenue for the third quarter ended October 30, 2022 was $5.93 billion, down 17% from the same period last year and down 12% from the previous quarter.

Quarterly GAAP diluted earnings per share was $0.27, down 72% from the same period last year and up 4% from the previous quarter. Quarterly non-GAAP diluted earnings per share was $0.58, down 50% from the same period last year and up 14% from the previous quarter.

NVIDIA founder and CEO Huang Renxun said: “We are quickly adapting to the macro environment, correcting inventory levels, and paving the way for new products.”“Including Ada Lovelace RTX graphics cards, Hopper AI computing, BlueField and Quantum networks, Orin for autonomous driving and robots, and Omniverse, the new platforms have started well for us, laying the foundation for our next stage of growth.”

He said: “NVIDIA's pioneering work in accelerating computing is more important than ever. The speed of general computing is slowing down due to physical limitations, and now is the time for AI computing demand to grow. Accelerated computing enables enterprises to achieve a significant increase in productivity while saving costs and protecting the environment.”

In the third quarter of 2023, NVIDIA paid $37.5 billion to shareholders in the form of stock repurchases and cash dividends, bringing the total return for the first three quarters to $92.9 billion. As of October 30, 2022, according to the stock repurchase authorization until December 2023, NVIDIA can still repurchase stocks worth $82.8 billion.

In addition, NVIDIA will pay shareholders $0.04 per share in the next quarter's cash dividend on December 22, 2022 to all shareholders on record as of December 1, 2022.

Third Quarter Overview

Forecast

NVIDIA's outlook for the fourth quarter of 2023:

• Expected revenue to reach $60.0 billion, plus or minus 2%.
• GAAP and non-GAAP gross margins are expected to be 63.2% and 66.0%, respectively, plus or minus 50 basis points.
• GAAP and non-GAAP operating expenses are expected to be approximately $25.6 billion and $17.8 billion, respectively.
• GAAP and non-GAAP other income and expenses are expected to be approximately $40 million, not including the income or loss from non-related investments.
• GAAP and non-GAAP tax rates are expected to be 9.0%, plus or minus 1%, not including any discrete items.

Highlights

Since the last earnings report, NVIDIA has made progress in the following areas:

Data Center

• Third quarter revenue was $38.3 billion, up 31% from the same period last year and up 1% from the previous quarter.
• Announced at the SC22 supercomputer conference, the new NVIDIA GPU and Quantum-2 system have been widely adopted; NVIDIA Omniverse™ is connected to advanced scientific computing visualization software; 90% of new systems in the top 500 supercomputer list are equipped with NVIDIA products.
• Announced a multi-year partnership with Microsoft, Microsoft Azure is deploying tens of thousands of GPUs to help enterprises train, deploy, and expand AI, including advanced models.
• Announced a multi-year partnership with Oracle, to bring the complete NVIDIA accelerated computing stack into Oracle Cloud Infrastructure that is deploying tens of thousands of NVIDIA GPUs.
• Announced a partnership with Nuance Communications to provide AI-based diagnostic tools for clinical radiologists.
• Announced that Rescale will integrate NVIDIA AI Enterprise software into its high-performance computing service product.
• Announced the launch of two new large language model (LLM) cloud AI services——NVIDIA NeMo™ LLM  and NVIDIA BioNeMo™ LLM, allowing developers to easily adjust LLM and deploy customized AI applications, which can be used for content generation, text summarization, and protein structure and biomolecular property prediction.
• Launched the second generation NVIDIA OVX™, which uses the Ada Lovelace GPU architecture and new upgraded network technology to help build a 3D world with groundbreaking real-time graphics, AI, and digital twin simulation performance.
• Announced the launch of a new data center solution, combining Dell PowerEdge servers, NVIDIA BlueField® DPU, NVIDIA GPUs and NVIDIA AI Enterprise software, and zero-trust security optimization for VMware vSphere 8.

Game Industry

• Third quarter revenue was $15.7 billion, down 51% from the same period last year and down 23% from the previous quarter.
• Launched GeForce RTX™ 4090  — the first Ada Lovelace architecture GPU for game players and creators, sold out in various places. Today, RTX 4080 also went on sale.
• Launched NVIDIA DLSS 3, which is an AI-driven performance booster that has opened a new era of NVIDIA RTX™ neural network rendering. Currently, there are more than 240 available DLSS games and applications, including 35 already announced to support DLSS 3, including:《漫威蜘蛛侠：重制版》（Marvel’s Spider-Man Remastered）、《赛博朋克2077》（Cyberpunk2077） and 《微软模拟飞行》（Microsoft Flight Simulator ）.
• Launched 37 new RTX games and applications, bringing the total number of available RTX games and applications to more than 360.
• Extended GeForce NOW™ game library, adding 85+ games, bringing the total number of available games to more than 1400.

Professional Visual

• Third quarter revenue was $2 billion, down 65% from the same period last year and down 60% from the previous quarter.
• Launched the first software plus infrastructure as a service product——NVIDIA Omniverse™ Cloud, allowing artists, developers, and enterprise teams to use this comprehensive and comprehensive cloud service to access metaverse applications.

Automotive and Embedded Technology

• Third quarter revenue was $2.51 billion, up 86% from the same period last year and up 14% from the previous quarter.
• Launched a new centralized in-car computing platformNVIDIA DRIVE Thor™, designed for safe and reliable autonomous vehicles, with 2000 TFLOPS floating point computing power.
• The pure electric Volvo EX90 and the first premium electric SUV from Polestar based on the NVIDIA DRIVE™ platform Polestar 3 has been on the market.
• AnnouncedZeon Automobile's brand Naza will develop future electric vehicle models based on the NVIDIA DRIVE Orin™ platform for autonomous driving and intelligent functions.
• AnnouncedNew DRIVE IX ecosystem partners, they will provide interactive functions for vehicles through NVIDIA's open AI cabin software stack.
• LaunchedJetson Orin Nano™ system-level module, whose performance is 80 times higher than the previous generation, becoming a new benchmark for entry-level edge AI and robotics.