3 Important Revelations From NVIDIA's Q3 Earnings The Motley Fool

After a year of uncertainty, NVIDIA (NASDAQ:NVDA) shareholders were holding out hope that the company could return to year-over-year revenue growth, or at least continue the incremental improvements it has delivered in each of the previous two quarters. While the return to growth has yet to materialize, NVIDIA did deliver sequential improvement in its third-quarter earnings report out Thursday, supporting investors' hopes that the worst is over. For the fiscal 2020 third quarter, which ended Oct. 27, NVIDIA reported revenue of $3.01 billion, down 5% year over year -- but up 17% sequentially. This was easily above analysts' consensus top estimates of $2.91 billion and the high end of management's forecast, which called for $2.96 billion. Profits were equally promising, as adjusted earnings per share of $1.78 declined 3% from a year ago but soared past expectations of $1.57.