Company To Report On May 22nd

Nvidia Earnings Preview: Analysts Expect Strong Results Amid AI Boom

Company to Report on May 22nd

Nvidia (NVDA) is scheduled to report its earnings results for the first quarter of fiscal 2024 on Wednesday, May 22nd. The stock has gained 41.4% since its last earnings release, including a post-earnings surge of 14.1%.

Analysts' Expectations

Analysts are expecting strong results from Nvidia, driven by the continued growth of the artificial intelligence (AI) market. The company is forecast to report earnings per share (EPS) of $0.55 on revenue of $24.17 billion. This would represent a year-over-year increase of 55.5% in EPS and 24.2% in revenue.

In its previous quarter, Nvidia reported EPS of $0.62 and revenue of $26.4 billion, both of which significantly exceeded analysts' expectations. The company's strong performance was driven by robust demand for its gaming and data center chips.

Outlook for the Quarter

For the current quarter, Nvidia has guided for revenue of $26.3 billion, plus or minus 2%. This outlook is significantly higher than consensus forecasts for $24.17 billion.

Analysts believe that Nvidia's strong outlook is driven by the growing demand for its AI chips, which are used in everything from self-driving cars to natural language processing. The company is also benefiting from the continued strength of the gaming market.

Conclusion

Nvidia is expected to report another strong quarter, driven by the continued growth of the AI and gaming markets. The company's outlook for the current quarter is also positive, suggesting that it is well-positioned to continue to benefit from these trends. Investors will be watching closely to see if Nvidia can continue to execute on its growth plans and deliver on its expectations.