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
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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.
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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.
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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.
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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.
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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
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