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NVIDIA profit misses consensus by 33.9% in fiscal Q3

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NVIDIA profit misses consensus by 33.9% in fiscal Q3

NVIDIA Corp. said its normalized net income for the fiscal third quarter ended Oct. 26 amounted to 23 cents per share, compared with the S&P Capital IQ consensus estimate of 35 cents per share.

EPS increased 56.0% year over year from 15 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $130.8 million, a gain of 47.9% from $88.4 million in the year-earlier period.

The normalized profit margin rose to 10.7% from 8.4% in the year-earlier period.

Total revenue rose 16.3% on an annual basis to $1.23 billion from $1.05 billion, and total operating expenses climbed 10.9% on an annual basis to $1.01 billion from $913.0 million.

Reported net income increased 47.0% on an annual basis to $173.0 million, or 31 cents per share, from $117.8 million, or 20 cents per share.