Categories AlphaGraphs, Earnings, Technology

Earnings: Nvidia (NVDA) Q3 profit drops and misses estimates; revenue down 17%

Nvidia Corporation (NASDAQ: NVDA) Wednesday reported lower revenues and earnings for the third quarter of 2023. The bottom line also fell short of expectations.

Nvidia Q3 2023 earnings infographic

The Santa Clara-headquartered graphics chipmaker said its adjusted net income declined to $0.58 per share in the October quarter from $1.17 per share a year earlier. Market watchers had predicted a smaller fall. Net income, including special items, was $680 million or $0.27 per share in the latest quarter, compared to $2.46 billion or $0.97 per share in the third quarter of 2022.

The earnings drop reflects a 17% year-over-year decline in revenues to $5.93 billion. The top line, however, exceeded estimates.


Check this space to read management/analysts’ comments on Nvidia’s Q3 2023 earnings


“During the third quarter of fiscal 2023, we returned $3.75 billion to shareholders in the form of share repurchases and cash dividends, and we returned $9.29 billion in the first nine months of fiscal 2023. As of the end of the third quarter of fiscal 2023, we had $8.28 billion remaining under our share repurchase authorization through December 2023,” said Nvidia’s CFO Colette Kress.

Prior Performance

  • Nvidia Q2 2023 earnings infographic
  • Nvidia Q1 2023 earnings infographic
  • Nvidia Q4 2022 earnings infographic

_________________________________________________________________________________________________________________

Stocks you may like:

Apple (AAPL) Stock

Microsoft (MSFT) Stock

Alphabet (GOOGL) Stock

International Business Machines Corp. (IBM) Stock

_________________________________________________________________________________________________________________

Most Popular

ACN Earnings: All you need to know about Accenture’s Q2 2023 earnings results

Accenture (NYSE: ACN) reported second quarter 2023 earnings results today. Total revenues increased 5% year-over-year to $15.8 billion. Net income attributable to Accenture plc was $1.52 billion, or $2.39 per

Here’s how FedEx (FDX) plans to soften the impact of volume declines on its business

Shares of FedEx Corporation (NYSE: FDX) stayed green on Wednesday. The stock has gained 26% year-to-date. The company faced a challenging environment in the third quarter of 2023 which took

Walgreens Boots Alliance (WBA) shifts to expansion mode. Will it pay off?

Walgreens Boots Alliance, Inc. (NASDAQ: WBA), a market leader in retail pharmacy, has regularly revised its business model to better align with the transformation the healthcare space is witnessing. Currently,

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top