US earnings: What to expect from Nvidia and Walmart this week

Walmart has so far found a way of dealing with higher input costs and keeping competitive prices for its customers, which translated it earnings beat in three out of the previous four quarters. Walmart is forecast to post earnings of $1.64 per share on revenue over $170 billion tomorrow. This compares to EPS of $1.50 and revenue of $151.47 billion the same quarter a year ago. Analysts, however, predict an 11% increase in US e-commerce sales, which would be the slowest rate of growth in 2023. After the US close on Wednesday, all eyes will be on NVIDIA. The street anticipates EPS of $4.58 and revenue of $20.37 billion. For the same quarter last year, NVIDIA posted earnings of 88 cents per share on revenue just over $6 billion, a phenomenal rise that translated in gains of over 220% over the past 12 months. Year to date, the stock has already risen by 50%. IGTv’s Angela Barnes has this preview.

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Walmart

In the coming days, there are a few important earnings reports from major US companies that are worth paying attention to. One of them is Walmart, which has been doing a great job of managing the rising costs of materials and inflation while still offering competitive prices to its customers. Over the past year, Walmart's earnings have been improving, and tomorrow they are expected to announce earnings of $1.64 per share, with revenue exceeding $170 billion. This is a significant increase from last year, where they had earnings of $1.50 per share and revenue of $151.47 billion in the same quarter. However, analysts predict that the company's US e-commerce sales will grow at a slower rate of 11 percent, which is the slowest since 2023. Despite this, Walmart's stock has been performing well, rising by 10 percent year-to-date and outperforming the S&P 500.

Home Depot

Another company to watch out for is Home Depot, a popular home improvement retailer. While their earnings are expected to drop by 18 percent and sales to decrease by 4 percent, investors are curious to see how the company performs.

NVIDIA

On Wednesday, after the market closes, NVIDIA's earnings report will be eagerly awaited. The Street predicts earnings per share of $4.58 and revenue of $20.37 billion, compared to earnings of $0.88 per share and revenue just over $6 billion from the previous year. Nvidia's stock has seen a significant rise, with gains of over 220 percent in the past 12 months and a 50 percent increase year-to-date. This is due to the increasing demand for their products, especially in the field of artificial intelligence, as businesses around the world seek to improve their efficiency and market positions. Nvidia's data center base, including cloud and AI services, could potentially bring in around $17 billion in revenue, which is more than four times last year's amount.

These earnings reports will offer valuable insights into how these companies are performing financially and what their future prospects might be. Investors and market watchers will closely analyze these results to get a sense of the overall health and direction of these key players in the US market.