Leading designer of graphics chips Nvidia (NASDAQ: NVDA) will be announcing earnings results this Wednesday after market hours. Here’s what to look for.
Nvidia beat analysts’ revenue expectations last quarter, reporting revenues of $68.13 billion, up 73.2% year on year. It was a very strong quarter for the company, with revenue guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates.
Is Nvidia a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Nvidia’s revenue to grow 78.6% year on year, improving from the 69.2% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Nvidia has a history of exceeding Wall Street’s expectations.
Looking at Nvidia’s peers in the processors and graphics chips segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Lattice Semiconductor delivered year-on-year revenue growth of 42.2%, beating analysts’ expectations by 3.6%, and Intel reported revenues up 7.2%, topping estimates by 9.6%. Lattice Semiconductor traded down 2.6% following the results while Intel was up 23.6%.
Read our full analysis of Lattice Semiconductor’s results here and Intel’s results here.
There has been positive sentiment among investors in the processors and graphics chips segment, with share prices up 17.8% on average over the last month. Nvidia is up 10.2% during the same time and is heading into earnings with an average analyst price target of $275.31 (compared to the current share price of $222.73).
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