NVIDIA Earnings Preview: Q1 2024
Earnings Date and Time
NVIDIA Corporation (NASDAQ: NVDA) is scheduled to release its Q1 2024 earnings report on August 28, 2023, after the market closes.
Key Points
- The report will cover the financial performance for the three months ended July 2, 2023.
- Analysts expect NVIDIA to report earnings per share (EPS) of $1.28, a decrease of 28% year-over-year.
- Revenue is anticipated to decline by approximately 15% to $6.17 billion.
Factors to Watch
Investors will be paying close attention to NVIDIA's commentary on:
- The impact of the ongoing global economic slowdown on demand for its products.
- The company's progress in developing and launching new products, including its next-generation graphics cards.
- NVIDIA's plans for capital allocation, including share buybacks and dividend payments.
Historical Performance
In the previous quarter, NVIDIA reported EPS of $1.32, beating analysts' estimates by 3%. Revenue came in at $6.05 billion, a 4% increase year-over-year.
Analyst Estimates
According to a survey of analysts by Refinitiv, the average EPS estimate for Q1 2024 is $1.28, with a range of $1.12 to $1.44. Revenue is expected to be $6.17 billion, with a range of $5.92 billion to $6.42 billion.
Conclusion
NVIDIA's Q1 2024 earnings report will provide insights into the company's performance in a challenging economic environment. Investors will be looking for signs of resilience and growth potential as the company navigates the post-pandemic landscape.
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