Nvidia to report Q3 earnings today as AI fever continues to power Wall Street
Published On Nov 20, 2024, 12:59 PM
Nvidia is set to report its Q3 earnings today, with analysts predicting strong results due to the ongoing AI boom. They expect earnings per share (EPS) of $0.74 and revenue of $33.2 billion, marking an 83% year-over-year increase for both metrics. The data center segment, Nvidia's largest, is anticipated to bring in $29 billion, a 100% rise from last year. Investors will be keen to see if Nvidia raises its guidance for the next quarter, amid concerns about potential tariffs on products sourced from Taiwan, which could impact margins. CEO Jensen Huang's comments on the Blackwell AI chip production will also be closely watched, as demand exceeds supply. Despite strong growth, Nvidia's stock price may face downward pressure following the report, similar to its reaction after past earnings announcements.
Stock Forecasts
NVDA
Positive
Nvidia's strong earnings expectations are bolstered by the booming demand for AI technology, suggesting a positive outlook. However, potential tariffs and production delays in their upcoming chips could overshadow short-term gains and lead to investors taking profits after any positive news.
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