Nvidia Hits US$7.1 Billion In Revenue In Fiscal Q3 2022

NVIDIA (Nasdaq: NVDA) announced on Wednesday its financial results for the fiscal third quarter 2022 ended October 31, 2021. The report highlights a topline revenue figure of US$7.1 billion, an increase from both Q2 2022’s revenue of US$6.5 billion and Q3 2021’s revenue of US$4.7 billion.

The tech firm also said that the increase in revenue is partly due to “record revenue” contributions from its data center and gaming market platforms, contributing US$3.0 billion and US$3.2 billion, respectively.

The gross margin also increased to 65.2% this quarter coming from 64.8% last quarter and 62.6% last year. Further down the financials, net income for the quarter came in at US$2.5 billion compared to US$2.4 billion last quarter and US$1.3 billion last year. The quarterly income translates to US$0.97 earnings per diluted share.

The firm ended the quarter with a US$1.3 billion cash and cash equivalents balance from a starting balance of US$5.6 billion. The cash burn is heavily driven by marketing securities purchases amounting to US$6.8 billion. The company’s current assets balance ended at US$25.8 billion while current liabilities came in at US3.6 billion.

The tech company is expecting its revenue for fiscal Q4 2022 to be US$7.4 billion, with gross margins between 65.3% and 67.0%.

NVIDIA last traded at US$292.61 on the Nasdaq.


Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

When 4% of Global Copper Disappears Overnight | David Gower – Emerita Resources

Mining M&A: Gold X2 Acquires Kesselrun Resources

They Said Oil Was Dead. They Were Wrong. | Michael Judson – Record Resources

Recommended

Military Seizes Power in Madagascar After President Flees

Altamira Gold Hits 395.5 Metres Of 0.4 g/t Gold At Maria Bonita

Related News

Nvidia: Analysts Anticipate $5.8 Billion In Q3 Revenues

Nvidia Corp (NASDAQ: NVDA) will be reporting their fiscal third quarter financial results May 26th...

Wednesday, May 26, 2021, 11:44:00 AM

Nvidia Q3 Earnings: Are We Nearing A Top?

Folks, we just may be nearing a market top if Nvidia (NASDAQ: NVDA) is any...

Sunday, November 24, 2024, 09:37:00 AM

Nvidia’s Market Slide Deepens Following DOJ Antitrust Subpoena

Nvidia (NASDAQ: NVDA) is under increasing scrutiny as the U.S. Department of Justice ramps up...

Wednesday, September 4, 2024, 12:00:07 PM

Nvidia Poised To Take 4% Equity Stake In Intel With $5B Investment

Nvidia (NASDAQ: NVDA) revealed its plans to invest $5 billion in Intel (NASDAQ: INTC) and...

Friday, September 19, 2025, 08:14:28 AM

Nancy Pelosi’s Husband Makes Bank On Nvidia Trade As Senate Votes On CHIPS Act

Paul Pelosi, husband of House Speaker Nancy Pelosi, reportedly bought US$1 million worth of additional...

Sunday, July 24, 2022, 11:04:00 AM