Nvidia (NVDA) is set to report its first quarter earnings after the bell on Wednesday in what will be one of the most consequential reports for investors this year.
Wall Street is expecting Nvidia to report revenue and profits that rose more than 200% and 400%, respectively, from the prior-year period as the company experiences a surge in demand for its chips amid the AI boom.
Analysts expect adjusted earnings per share to total $5.65 on revenue of $24.69 billion, according to data from Bloomberg. The company reported adjusted EPS of $1.09 on revenue of $7.19 billion in the same quarter last year.
Nvidia stock has been on a tear over the last year, rising over 200%. The stock has risen nearly 700% since the stock market lows in October 2022. Shares closed at a record high on Tuesday.
The vast majority of Nvidia’s revenue will come from its Data Center business, which is set to pull in $21 billion, up from $4.28 billion in Q1 last year.
The company’s Gaming division, formerly its…
2024-05-21 14:41:53
Post from finance.yahoo.com