Nvidia's earnings are back on track

Jolly green graphics firm Nvidia showed the world’s its balance sheets a couple of hours ago when Europe was sound asleep. And lo and behold, investors and fanbois could see the company had made a profit of $84.9 million in the third quarter, after incurring a loss of $141 million in the previous quarter. The profit however was less than $107.6 million Nvidia earned in the third quarter one year ago, but business was better and products were not late to market back then.

Revenues amounted to $843.9 million, up $811.2 million sequentially. Nvidia’s gross margin remarkably climbed from 16.6% in the second quarter to 46.5%, which certainly helped put things back on the right track. Papers bearing the goblin’s seal jumped in late, after hours trading as the earnings per share was higher than expected.

Nvidia’s CEO Jen-Hsun Huang proclaimed “we have turned the corner,” adding the company had started rolling out its Fermi marchitecture across product lines. He also was quoted as saying Nvidia had positioned itself “at the center of cloud and mobile computing” with its Tesla product range. “And Tegra will soon be featured in a range of smartphones and tablets we’re building with our partners,” he continued before falling silent.

Nvidia foresees revenue to grow between three and five percent in the fourth quarter without adding what it believes its profit may be, or may be not.