Nvidia Q3 Profit Declines; Issues Q4 Revenue Outlook - Quick Facts

(RTTNews) - Nvidia Corp. (NVDA) reported net income for the third quarter of $118.7 million, or $0.20 per share, compared to $209.1 million or $0.33 per share for the year-ago quarter.

Excluding items, adjusted net income for the third quarter was $153.8 million or $0.26 per share, compared to $245.5 million or $0.39 per share in the prior year quarter.

Revenue for the latest third quarter fell 12.5% to $1.05 billion from $1.20 million in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $0.20 per share on revenue of $1.05 billion for the third quarter.

Looking forward, the company said it expects fourth quarter revenue to be $1.05 billion, plus or minus 2%. Analysts currently expect the company to post revenue of $1.08 billion for the fourth quarter.

NVIDIA also announced a 13 percent increase in the quarterly cash dividend to $0.085 per share from $0.075 per share. NVIDIA will pay its next quarterly cash dividend of $0.085 per share on Dec. 13, 2013, to all stockholders of record on Nov. 21, 2013.