Nvidia NVDA Beats Q1 Earnings and Revenue Estimates

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion. Given Nvidia’s advantage in the AI arena, the company can potentially power through a wall of worry despite a possible hiccup next week. One thing that makes the Focus List even more advantageous is that each pick comes with a full Zacks Analyst Report. This helps explain why each stock was selected and why we believe it’s a good pick for the long-term.

  • Right now, NVDA stock trades at a price/earnings-to-growth (PEG) ratio of 12.23 times.
  • This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system.
  • Mr. Malachowsky serves as a member of the company’s executive staff and is a senior technology executive.
  • The Santa Clara, Calif.-based company’s data-center revenue surged 171%.
  • The industry with the best average Zacks Rank would be considered the top industry (1 out of 265), which would place it in the top 1% of Zacks Ranked Industries.

Alphabet has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Tuesday, October 24th, 2023 based off prior year’s report dates. At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.17% per year. These returns cover a period from January 1, 1988 through September 4, 2023.

GAAP earnings per diluted share were $1.74, down 55% from a year ago. Non-GAAP earnings per diluted share were $3.34, down 25% from a year ago. The problem is, many of today’s financial traders didn’t experience the dot-com bubble of 2000.

NVIDIA Corporation beat analysts’ expectations during the last earnings period by 29.19%. NVIDIA Corporation reported earnings of $ 2.70 per share on Aug 23, 2023, while the forecasted EPS was $ 2.09. NVIDIA Corporation is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit, or GPU. Since stock prices respond to revisions, it can be very profitable to buy stocks with rising earnings estimates.

NVDA’s next earnings release is expected to come out on Nov 21, 2023. Analysts expect NVDA to achieve an EPS of $ 3.32 during the next earnings period, which would be an increase of 22.96% compared to the latest earnings report. A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Pouring salt on open wounds, the market also prices NVDA stock at a trailing revenue multiple of 44X and a book multiple of 46X.

News

Nvidia , which belongs to the Zacks Semiconductor – General industry, posted revenues of $7.19 billion for the quarter ended April 2023, surpassing the Zacks Consensus Estimate by 10.50%. The company has topped consensus revenue estimates four times over the last four quarters. “Mellanox, one year in, has exceeded our expectations and transformed NVIDIA a brief history of forex into a data-center-scale computing company. We continue to make headway with our planned acquisition of Arm, which will accelerate innovation and growth for the Arm ecosystem. From gaming, cloud computing, AI, robotics, self-driving cars, to genomics and computational biology, NVIDIA continues to do impactful work to invent a better future,” he said.

In terms of the Zacks Industry Rank, Semiconductor – General is currently in the bottom 16% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Over the last four quarters, the company has surpassed consensus EPS estimates two times. At the AI platform software understanding moving average indicators layer, they will be able to access NVIDIA AI Enterprise for training and deploying large language models or other AI workloads. Customers will be able to engage each layer of NVIDIA AI – the AI supercomputer, acceleration libraries software or pretrained generative AI models – as a cloud service. For fiscal 2023, revenue was $26.97 billion, flat from a year ago.

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Fabless companies design the hardware while outsourcing the manufacturing to a third-party firm. In other words, Nvidia stock is in the top 1% of all stocks in terms of technical and fundamental metrics. View upcoming earnings forecasts and in-depth analysis of
company forecasts. This category includes sales of the company’s cryptocurrency mining processor (CMP), which will fluctuate along with the cryptocurrency market. Wall Street had been looking for revenue and adjusted EPS of $8.12 billion and $1.29, respectively, so Nvidia comfortably exceeded both expectations.

There’s also a VGM Score (‘V’ for Value, ‘G’ for Growth and ‘M’ for Momentum), which combines the weighted average of the individual style scores into one score. The Style Scores are a complementary set of indicators to use alongside the Zacks Rank. It allows the user to better focus on the stocks that are the best fit for his or her personal trading style. NVIDIA’s earnings are expected to grow from $9.54 per share to $14.93 per share in the next year, which is a 56.50% increase. StockEarnings.com is owned and published by StockEarnings, Inc (“SE”).

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“We are set to help customers take advantage of breakthroughs in generative AI and large language models. Our new AI supercomputer, with H100 and its Transformer Engine and Quantum-2 networking fabric, is in full production. The industry with quebex the best average Zacks Rank would be considered the top industry (1 out of 265), which would place it in the top 1% of Zacks Ranked Industries. The industry with the worst average Zacks Rank (265 out of 265) would place in the bottom 1%.

Quotes & News

Since being added to the Focus List on May 20, 2019 at $39.13 per share, shares of NVDA have increased 1021.9% to $439. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets. Yet, folks who bought CSCO at $80 in 2000 were undoubtedly horrified to watch it crash to the $10 area.

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Nvidia is giving me a sense of dejavu as it currently has a trailing-12-month price-to-earnings (P/E) ratio of 226.25x, versus the sector median P/E ratio of 24.9x. Thus, valuation concerns prompted me to issue a warning about NVDA stock not long ago, and I’m sticking to my profit-taking recommendation now. You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.

Nvidia leads in artificial intelligence (AI) chips, but competition is rising. Key customer Microsoft (MSFT) may be working on its own AI chip. OpenAI, whose backers include Microsoft, reportedly is exploring its own AI chips as well.

Nvidia’s Bullish Outlook: Analyst Predicts 50% Stock Gain To Reach $700

And if you’re not an Nvidia shareholder, I recommend waiting to see if the stock price drops post-earnings-announcement. And, with Nvidia set to report its second-quarter 2023 earnings results on the morning of Aug. 23, the expectations are lofty. For example, Morgan Stanley analysts recently called NVDA stock a “top pick” and anticipate a “meaningful beat and raise quarter” for Nvidia.

Our experts picked 7 Zacks Rank #1 Strong Buy stocks with the best chance to skyrocket within the next days. Here at Zacks, we offer our members many different opportunities to take full advantage of the stock market, as well as how to invest in ways that lead to long-term success. Nvidia shares have added about 110% since the beginning of the year versus the S&P 500’s gain of 8%. Further details will be shared at the company’s GTC developer conference, taking place virtually March 20-23. There’s no disputing that Nvidia will benefit from the demand for artificial intelligence (AI) chips. The Zacks Equity Research reports, or ZER for short, are our in-house, independently produced research reports.

Investors generally should focus on stocks with Comp Ratings of 90 or even 95 and above. Nvidia stock often earns a spot on the IBD 50, Big Cap 20 and Sector Leaders lists. Companies like Nvidia and Microsoft tap the emerging market for generative AI. Generative AI can create content, including written articles, from simple phrases by analyzing vast amounts of data. Volatility profiles based on trailing-three-year calculations of the standard deviation of service investment returns. As Huang is quoted as saying in a Nvidia blog, “The CPU is for general-purpose computing, the GPU is for accelerated computing, and the DPU, which moves data around the data center, does data processing.”

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