I’d like to remind you that our call is being webcast live on NVIDIA’s Investor Relations website.
With me today from NVIDIA are Jensen Huang, President and Chief Executive Officer and Colette Kress, Executive Vice President and Chief Financial Officer. Good afternoon, everyone, and welcome to NVIDIA’s conference call for the third quarter of fiscal 2022. Simona Jankowski, you may begin your conference. At this time, I would like to welcome everyone to the NVIDIA’s Third Quarter Earnings Call. My name is Saydie, and I will be your conference operator today. Timothy Arcuri - UBS - Analyst Presentation: Stacy Rasgon - Bernstein Research - Analyst Jensen Huang - Founder, President and Chief Executive Officer Analysts: 17, 2021 Corporate Participants:Ĭolette Kress - Executive Vice President and Chief Financial Officer Nvidia said that it paid a $1.35 billion termination charge, which came out to a negative impact of 52 cents per share on a GAAP basis.NVIDIA Corporation ( NASDAQ: NVDA) Q3 2021 earnings call dated Nov. It spent $2.1 billion on share buybacks and dividends in the first quarter.Įarlier this year, Nvidia terminated a large purchase of Arm, a chip technology company. Nvidia said its board has authorized an additional $15 billion in share buybacks through the end of next year. Nvidia said that its cryptocurrency-specific products, CMP, drove a 52% decline in other revenue, as revenue was "nominal" during the quarter. Professional visualisation for workstations grew 67% annually to $622 million, but the company's automotive business was down 10% on a year-over-year basis to $138 million.Įarlier this month, Nvidia announced that it had reached a settlement with the SEC over disclosures in 2017 about how cryptocurrency mining drove the company's growth. The company's results in its smaller lines of business were mixed. Nvidia said it expected gaming revenue to decline sequentially "in the teens" in the current quarter. The company said that inventory of its graphics chips for gaming, which had been difficult to find at retail prices for the past year, had "normalized," suggesting that the shortage is starting to abate.
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