NVIDIA reports fiscal first-quarter earnings on Wednesday
Here's what Wall Street expects
Nvidia Corp. (NVDA) is expected to report quarterly earnings after the bell on Wednesday, May 24, with analysts expecting the chipmaker to post record revenue and earnings, aided by strong demand for its gaming and data center chips. According to a consensus of estimates from Refinitiv, analysts are expecting Nvidia to report earnings of $3.66 per share on revenue of $8.04 billion. This would represent a 37% increase in earnings and a 23% increase in revenue compared to the same quarter last year. The company's gaming business is expected to be a key driver of growth, with analysts expecting revenue to increase by 33% year-over-year. Nvidia's data center business is also expected to perform well, with analysts expecting revenue to increase by 24%. In the fourth quarter of fiscal 2023, Nvidia reported record revenue of $7.64 billion, up 56% year-over-year. The company also reported record earnings per share of $3.36, up 77% year-over-year. Nvidia's stock has performed well over the past year, rising by more than 50%. The stock is currently trading at around $310 per share.
Conclusion
Nvidia is a leading player in the semiconductor industry, and its earnings report on Wednesday is likely to be closely watched by investors. The company is expected to report strong results, driven by demand for its gaming and data center chips. If the company meets or exceeds expectations, its stock is likely to continue to perform well.
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