05:09 PM EST, 11/20/2024 (MT Newswires) -- Nvidia's ( NVDA ) fiscal third-quarter earnings more than doubled year-over-year as demand for generative artificial intelligence propelled the chipmaker's revenue above Wall Street's estimates.

The chipmaker's adjusted per-share earnings increased to $0.81 during the three months ended Oct. 27 from $0.40 a year earlier. That topped the consensus on FactSet of $0.70. Revenue climbed 94% to $35.08 billion, exceeding the Street's $33.15 billion call.

"The age of AI is in full steam, propelling a global shift to Nvidia ( NVDA ) computing," Chief Executive Jensen Huang said in a statement. "Demand for Hopper and anticipation for Blackwell -- in full production -- are incredible as foundation model makers scale pretraining, post-training and inference."

Hopper is a graphics processing unit architecture, while Blackwell is a generative AI system.

Data-center revenue more than doubled year-over-year to a record $30.77 billion, reflecting demand of the Hopper computing platform used for the training of large language models and gen AI applications, Chief Financial Officer Colette Kress said in comments posted on the company's website. Within the data center division, networking revenue advanced 20% to $3.13 billion.

Gaming revenue rose 15% to $3.28 billion, while sales in automotive jumped 72%.

Nvidia ( NVDA ) expects fourth-quarter consolidated revenue of $37.5 billion, plus or minus 2%. The consensus estimate indicates $37.05 billion.

Shares were down 2.1% in after-hours trading.