NVIDIA reports Q3, profits drop by 74%

Found at The DailyTech

NVIDIA announced its Q3 fiscal 2009 financials this week and reported a significant 20% reduction in quarterly revenue compared to the same quarter in fiscal 2008. NVIDIA took a one-time charge of $8.3 million related to the layoff of 360 employees globally. The pre-tax charge was to cover the cost of severance and related expenses.

…For the three-month period ending on October 26, NVIDIA’s profits sank by a 74% to $61.7 million, working out to 11 cents per share. In the same quarter last year, NVIDIA turned a tidy $235.7 million in profit.

Here’s the transcript of the earnings call from SeekingAlpha.