Nvidia’s fiscal third quarter 2025 earnings report Wednesday afternoon was the most anticipated big tech earnings report since, well, Nvidia’s fiscal Q2 report. Wall Street wanted to see a strong quarter, a bullish outlook, and some evidence of sales progress with the new Blackwell GPUs, and it got all three, although as we saw in previous quarters, all of that positive news may not be enough for some.
On the Blackwell front, Nvidia CFO Charlotte Kress said the company sold 13,000 Blackwell GPU samples as the GPU went into “full paroduction" after the company executed a “mask change” that had been thought to cause a production delay. Also, Kress said Nvidia is “on track to exceed our previous Blackwell revenue estimate of several billion dollars [in fiscal Q4] as our visibility increeases.”
Nvidia CEO Jensen Huang added, “We will ship more Blackwell next quarter than we did this quarter and more the next quarter after that so we are at the beginning.”
As for the current earnings report, the company hit the high notes in posting both overall fiscal Q3 revenue that was above expectations and a fiscal Q4 outlook that was above expectations. For fiscal Q3, Nvidia reported record quarterly revenue of $35.1 billion, up 17% from Q2 and up 94% from a year ago, and well above its previous guidance of $32.5 billion and the average analyst expectation of $33.1 billion. The company also reported record quarterly Data Center revenue of $30.8 billion, up 17% sequentially, and up 112% from a year ago.
For the quarter, GAAP earnings per diluted share was $0.78, up 16% from the previous quarter and up 111% from a year ago. Non-GAAP earnings per diluted share was $0.81, up 19% from the previous quarter and up 103% from a year ago.
Aside from the Data Center segment, Nvidia’s posted positive revenue growth in its other segments as well. Fiscal Q3 revenue in what Nvidia is now calling its Gaming and AI PC segment was $3.3 billion, up 14% from the previous quarter and up 15% from a year ago. Automotive revenue also continued its recent upward trend, as Nvidia reported revenue in that sector of $449 million, an increase of 30% from the previous quarter and up 72% from a year ago. Meanwhile, Professional Virtualization segment revenue reached $486 million, up 7% in fiscal Q3 from the previous quarter and up 17% from a year ago.
The outlook for the current quarter, fiscal Q4 2025 on Nvidia’s calendar, promises more of the same goodness, with Nvidia anticipating revenue to be $37.5 billion, plus or minus 2%, according to Kress. Analysts reportedly were expecting guidance below that, around $37 billion, though some reports appearing just after that number was revealed suggested some analysts wanted Nvidia to go even higher with its guidance.
Nvidia shares dropped 4% in pre-market trading early Thursday, hitting $141.59.