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.
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