Nvidia Corporation reported on Wednesday that its diluted earnings per share (EPS) in the third fiscal quarter of 2023 dropped 72% year over year to $0.27.
Revenue came in at $5.93 billion, down 17% from the corresponding trimester in the previous fiscal year, as operating income plunged 77% on the same basis to $601 million.
"We are quickly adapting to the macro environment, correcting inventory levels and paving the way for new products," CEO Jensen Huang noted in the report.
Company shares rose by 2.63% in extended trading after the quarterly update was published.
