Nvidia Earnings This Afternoon 📈
$NVDA earnings will move the market
Nvidia ($NVDA) reports earnings this afternoon.
Their report is one of the most highly anticipated earnings announcements of the quarter and results will impact the entire stock market.
Nvidia stock has risen by nearly 250% in 2023, in large part due to blowout Q1 earnings and raised guidance. The stock reached new all-time highs on Monday, eclipsing $500 per share.
This meteoric rise has made Nvidia become the sixth largest company by market cap, ahead of companies such as Meta, Tesla, and Berkshire Hathaway.
Nvidia has benefitted greatly from the rise in AI technology, as they are the market leader in providing GPUs for generative AI.
Expectations for today’s Q3 earnings report are as follows:
Revenue: $16.1 billion expected versus $5.93 billion in Q3 last year
Adjusted EPS: $3.36 expected versus $0.58 in Q3 last year
Data center revenue: $12.82 billion expected versus $3.83 billion in Q3 last year
Gaming revenue: $2.7 billion expected versus $1.57 billion in Q3 last year
Nvidia’s earnings will send ripples across the entire stock market.
The stock has performed incredibly well this year and has an opportunity to soar to new highs. However, investors now have very high expectations for the stock, so anything that can be construed as concerning in the earnings or conference call could be used as an excuse to sell the stock.
For more information on Nvidia stock and earnings, watch the video below: