SOXX - Nvidia's Earnings Around The Corner: Can AI Stalwart Bulldoze Its Way To Another Superlative Quarterly Performance? | Benzinga
Nvidia Corp. (NASDAQ:NVDA) reports fiscal fourth-quarter earnings after the market closes on Wednesday, holding significant weight for both the chipmaker and the overall market. As a leader in the AI revolution, Nvidia’s performance is key to investor sentiment.
Q4 Expectations: Wall Street unanimously anticipates another strong quarter, with analysts averaging $4.64 non-GAAP EPS and $20.62 billion in revenue, according to Benzinga Pro data.
The consensus expectations vis-à-vis past performances are as follows:
Consensus Q4’23 Estimated Y-o-Y Growth Q3’24 Estimated Q-o-Q Growth Guidance
Revenue $20.62B $6.05B +241% $18.12B +13.8% $20B +/- 2%
Non-GAAP EPS $4.64 88 cents +427% $4.02 +15.4% N/A
Focus on AI Powerhouse: Chris Fasciano, Portfolio Manager at Commonwealth Financial Network, said, “This week is about one thing and one thing only, and that’s Nvidia’s earnings report.”
Nvidia has become the “poster child for all things artificial intelligence, so analysts will certainly be focused on the earnings report for what it means for NVIDIA going forward and their earnings power, as it has clearly been one of the stock market leaders,” he added.
Morgan Stanley analyst Joseph Moore predicted a strong quarter in line with recent expectations. He acknowledged mixed data points but highlighted those closest to end demand ...