Nvidia turned a profit last quarter
After multiple quarters of record financial results, Nvidia posted a $120.9 million net loss in August, blaming among other things a $196 million charge it took to cover repairs for failing notebook graphics processors and chipsets. How have things evolved since then?
The company has now announced results for its third fiscal quarter, which ended on October 26, and it's apparently managed to make a profit again. Nvidia has posted net income of $61.7 million for revenue of $897.7 million—a clear drop from the $1.12 billion revenue and $235.7 million net income it posted in the same quarter a year ago, but still an improvement from the previous quarter's results. (Q2 revenue was $892.7 million.) Nvidia also notes that its non-GAAP net income is actually $111.4 million, once you exclude "stock-based compensation charges, a non-recurring charge against cost of revenue related to a royalty dispute, a restructuring charge against operating expenses, and the associated tax impact."
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