NVIDIA Corp. (NASDAQ:NVDA) Q3 2024 Earnings Conference Call November 21, 2023 5:00 PM ET

Company Participants

Simona Jankowski - VP, IR

Colette Kress - EVP & CFO

Jensen Huang - President & CEO

Conference Call Participants

Vivek Arya - Bank of America

Aaron Rakers - Wells Fargo

Joseph Moore - Morgan Stanley

Tim Arcuri - UBS

Toshiya Hari - Goldman Sachs

Stacy Rasgon - Bernstein Research

Matt Ramsay - Cowen

Harlan Sur - J.P. Morgan

Operator

Good afternoon. My name is JL, and I will be your conference operator today. At this time, I would like to welcome everyone to NVIDIA's Third Quarter Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions]

Simona Jankowski, you may now begin your conference.

Simona Jankowski

Thank you. Good afternoon, everyone, and welcome to NVIDIA's conference call for the third quarter of fiscal 2024. With me today from NVIDIA are Jensen Huang, President and Chief Executive Officer; and Colette Kress, Executive Vice President and Chief Financial Officer. I'd like to remind you that our call is being webcast live on NVIDIA's Investor Relations website. The webcast will be available for replay until the conference call to discuss our financial results for the fourth quarter and fiscal 2024. The content of today's call is NVIDIA's property. It can't be reproduced or transcribed without our prior written consent.

During this call, we may make forward-looking statements based on current expectations. These are subject to a number of significant risks and uncertainties and our actual results may differ materially. For a discussion of factors that could affect our future financial results and business, please refer to the disclosure in today's earnings release, our most recent forms 10-K and 10-Q, and the reports that we may file on Form 8-K with the Securities and Exchange Commission. All statements are made as of today, November 21, 2023, based on information currently available to us. Except as required by law, we assume no obligation to update any such statements.

During this call, we will discuss non-GAAP financial measures. You can find a reconciliation of these non-GAAP financial measures to GAAP financial measures in our CFO commentary, which is posted on our website.

With that, let me turn the call over to Colette.

Colette Kress

Thanks, Simona. Q3 was another record quarter. Revenue of $18.1 billion was up 34% sequentially and up more than 200% year-on-year and well above our outlook for $16 billion. Starting with Data Center. The continued ramp of the NVIDIA HGX platform based on our Hopper Tensor Core GPU architecture, along with InfiniBand end-to-end networking drove record revenue of $14.5 billion, up 41% sequentially and up 279% year-on-year.