Nvidia expected to report strong earnings with significant growth in EPS and sales.

From Nasdaq: 2024-05-20 15:25:00

The Q1 earnings season has been stronger than expected, with the technology sector notably contributing to the positive results. All eyes are now on Nvidia as the last company to report for the quarter.

Analysts are optimistic about Nvidia’s earnings release, with a 400% year-over-year growth expected in EPS and a 240% climb in sales from the year-ago period.

Nvidia’s Data Center revenue is expected to be a key focus, with estimates showing a 380% increase from the previous year. The company has consistently beaten consensus expectations, reflecting strong demand for AI chips.

Gaming revenue is also expected to show growth, with estimates suggesting a 17% increase year-over-year. Nvidia has exceeded expectations in this area for six consecutive quarters.

Nvidia has been a standout performer in the market, driven by increasing demand for AI applications. The stock has a Zacks Rank #2 (Buy) and favorable expectations, with upward revisions in both revenue and earnings forecasts.

Zacks experts have identified a little-known chemical company with high potential for growth and stock price appreciation. With soaring 2022 earnings estimates and strong demand, this company could be a top performer in the near future.



Read more at Nasdaq: NVIDIA Earnings Loom: A Closer Look