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.
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
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
AVGO Earnings: Broadcom Q4 profit beats estimates; revenue up 4%
Semiconductor company Broadcom, Inc. (NASDAQ: AVGO) on Thursday reported stronger-than-expected earnings for the fourth quarter. The tech firm also provided guidance for fiscal 2024. Earnings, excluding non-recurring items, came in
Costco’s (COST) stock hits a record high ahead of earnings. Here’s what to look for
As Costco Wholesale Corporation (NASDAQ: COST) prepares to publish its first-quarter earnings, the warehouse behemoth’s stock climbed to an all-time high this week. When it reports the results next week,
Dollar General (DG) faces challenges from inventory shrink in Q3
Shares of Dollar General Corporation (NYSE: DG) turned red on Thursday despite the company delivering better-than-expected results for the third quarter of 2023. The stock has dropped 46% year-to-date. Although
