Nvidia’s post-earnings stock trends ahead of the Q3 2024 earnings report
Nvidia will release its Q3 2024 earnings report on 21 November. This article explores Nvidia's past post-earnings stock trends and key insights for investors.
(AI summary)
Ready, set, render: Nvidia’s stock volatility
Nvidia Corporation is a global leader in graphics processing technology, specialising in graphics processing unites (GPUs) used across gaming, data centres, and artificial intelligence (AI). Expanding beyond gaming, Nvidia’s innovations now power advancements in AI, autonomous vehicles, and cloud computing. As a key player in the tech industry, Nvidia’s financial performance and share price movements are closely monitored by investors worldwide.
Nvidia is set to release its third quarter (Q3) 2024 earnings report on Thursday, 21 November at 8.20am AEDT. The company's share price has shown varied reactions following its earnings announcements.
Key financials
Expectations for Q3
- Revenue: $32.5 billion
- Revenue growth: 81.1% year-on-year (YoY)
- Earnings per share (EPS): $0.70
Comparison to previous quarter
- Revenue: $30.04 billion
- Revenue growth: 22% YoY
- Net income: $16.6 billion
- Diluted EPS: $0.67
Post earnings performance analysis
-
Immediate reactions (one day)
Nvidia’s stock generally sees minimal immediate response post-earnings. For example, in Q3 2023, it barely moved on the first day, reflecting a cautious initial market response.
-
Short-term adjustments (one week)
The one-week trend often shows more movement. Fourth quarter (Q4) 2022 and first quarter (Q1) 2023 saw gains as investor optimism grew, while Q3 2023 saw a slight decline, indicating caution or profit-taking.
-
Medium-term trends (one month)
One-month trends tend to be more volatile. In Q1 2023, Nvidia’s stock surged nearly 50%, suggesting strong investor confidence. Conversely, second quarter (Q2) 2023 saw a modest decline, likely due to broader market conditions.
-
Overall patterns
Nvidia’s post-earnings movements are influenced by both its financial performance and broader economic factors. Strong earnings often lead to gains, while challenging conditions can temper reactions.
-
Implications for investors
Short-term traders may focus on immediate and weekly shifts, while long-term investors should consider one-month trends for sustained sentiment. Nvidia’s exposure to AI, gaming, and data centres makes its stock sensitive to both earnings and macroeconomic trends.
Nvidia's post-earnings performance chart
News and trade ideas
This information has been prepared by IG, a trading name of IG Australia Pty Ltd. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Explore the markets with our free course
Discover the range of markets you can trade CFDs on - and learn how they work - with IG Academy's online course.
Turn knowledge into success
Practice makes perfect. Take what you’ve learned in this shares strategy article, and try it out in your demo account.
Ready to trade shares?
Put the lessons in this article to use in a live account. Upgrading is quick and simple.
- Trade over 13,000 popular global stocks
- Protect your capital with risk management tools
- Deal on 70 key US stocks out-of-hours, so you can react to news
Inspired to trade?
Put the knowledge you’ve gained from this article into practice. Log in to your account now.
Live prices on most popular markets
- Forex
- Shares
- Indices