NVIDIA Corp (NVDA.US) announced its financial results for the third quarter of fiscal 2022 after US stocks opened on Wednesday, Zhitong Financial APP learned. The company's Q3 revenue was a record $7.103 billion, better than market expectations of $6.82 billion, compared with $4.726 billion a year earlier, up 50 per cent from a year earlier, while net profit under GAAP accounting standards was $2.464 billion, up 84 per cent from $1.336 billion a year earlier, according to the company's Q3 revenue.

Under GAAP accounting standards, basic earnings per share were 99 cents, compared with 54 cents a year earlier, and diluted earnings per share were 97 cents, compared with 53 cents a year earlier. Adjusted earnings per share were $1.17, better than market expectations of $1.11.

Gross profit was $4.631 billion, up 56 per cent from $2.96 billion a year earlier. The gross profit margin was 65.2%, compared with 62.6% in the same period last year, an increase of 260 basis points over the same period last year.

Operating expenses were $1.96 billion, compared with $1.562 billion in the same period last year. Of this total, R & D expenditure was $1.403 billion, compared with $1.047 billion in the same period last year.

By business, revenue from the game business was US $3.22 billion, up 42% from the same period last year and 5% from the previous year; revenue from the data center business was US $2.94 billion, up 55% from the same period last year and 24% from the previous year; revenue from the professional visualization business was US $577 million, up 144% from the same period last year and 11% from the previous year; and revenue from the automobile business was US $135 million, up 8% from the same period last year and down 11% from the previous month. Revenue from gaming, data center and professional visualization all hit record highs.

In addition, NVIDIA Corp paid a quarterly cash dividend of $100m in the third quarter and will pay the next quarterly cash dividend of $0.04 per share on December 23, 2021 to all shareholders of record on December 2, 2021.

Looking ahead, NVIDIA Corp expects revenue of US $7.4 billion (exceeding market expectations of US $6.81 billion) in the fourth quarter of fiscal 2022, with gross margins of 65.3% and 67.0% under GAAP and non-GAAP accounting standards, respectively, up and down 50 basis points.

As of press time, Invida's shares rose 4.49% to $305.75 in after-hours trading on Wednesday.