The outlook for NVIDIA ( NASDAQ:NVDA ) for the next fiscal year is the main topic of this article. NVIDIA will have faster top-line and positive bottom-line growth in the next year, and the share price of NVIDIA has a lot of room to go up. This is why I think you should buy NVIDIA stock .
Key Numbers to Know
The key numbers for NVIDIA Corporation, such as its recent Q3 FY 2023 revenue and forward-looking top-line guidance for Q4 FY 2023, were satisfactory and mostly in line with what the market expected.
According to NVDA’s press release on its Q3 FY 2023 financial results, the company made $5,931 million in the most recent quarter. This is a -12% drop from the previous quarter. In particular, a 1% quarter-over-quarter increase in sales from the data centre market was more than cancelled out by a -23% QoQ drop in sales from the gaming market. Still, NVIDIA’s actual revenue for the third quarter was +2% higher than the market’s consensus estimate of $5.82 billion.
As part of its earnings report for the third quarter, NVIDIA gave a midpoint revenue forecast of $6 billion for the fourth quarter of fiscal year 2023. This means that NVIDIA’s top line will go up by 1% quarter-over-quarter and down by 21% year-over-year in the last quarter of the current fiscal year. More importantly, the company’s top-line guidance for the fourth quarter was only slightly (-1%, according to data from S&P Capital IQ) lower than what analysts had predicted as a whole before the most recent quarterly report.
Two weeks after NVIDIA announced its Q3 FY 2023 financial results on November 16, 2022, its shares did better than the S&P 500’s (+1.7%). This supports my belief that the company’s top line and revenue guidance for the third and fourth quarters were ...
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