In our preview of NVDA's Q3 results, we said that "it's not a question whether the company beats - they always do - but whether the "blowout" and the "smash" will be big enough to impress a market that has already priced in perfection, and beyond, for the GPU maker."

The market was impressed.

Here is what NVDA just reported for Q3: 

  •  Adjusted EPS $1.30, beating estimates of $1.24
    •  Revenue $57.01 billion, up +62% y/y, beating estimate $55.19 billion, and up $3BN vs guidance
       ♦ Data center revenue $51.2 billion, +66% y/y, beating estimate $49.34 billion
       ♦ Gaming revenue $4.3 billion, +30% y/y, missing estimate $4.42 billion
       ♦  Professional Visualization revenue $760 million, +56% y/y, beating estimate $612.8 million
       ♦ Automotive revenue $592 million, +32% y/y, missing estimate $620.9 million
  •    Adjusted operating income $37.75 billion, +62% y/y, estimate $36.46 billion
  •    Adjusted operating expenses $4.22 billion, +38% y/y, estimate $4.22 billion
        ♦ Adjusted gross margin 73.6%, missing est 74.0% and down from 75.0% a year ago. 
  •    R&D expenses $4.71 billion, +39% y/y, estimate $4.66 billion
  •    Free cash flow $22.09 billion, +32% y/y