Nvidia preview: What to expect from the tech giant’s earnings
After the US close later, all eyes will be on Nvidia with the street anticipating 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 has translated into gains over 220% the past 12 months. Year to date, the stock has already risen by 50%. Will the tech giant live up to expectations later? Here’s IGTV’s Angela Barnes with more.
(AI Video Summary)
NVIDIA
NVIDIA , a technology company, is getting ready to reveal how much money it made, and people are really excited to find out. Experts think NVIDIA will say it made $4.58 for every share of stock and had $20.37 billion in revenue. This is a big improvement from last year when they made only $0.88 per share and had just over $6 billion in revenue. Even though everyone is waiting for the news, the value of NVIDIA's stock has been going down a little, like 6.21 percent on the IB platform. But don't worry, the stock has gone up a lot in the past year, over 220 percent, and it's already gone up 50 percent since the beginning of this year.
NVIDIA has been a big success because it has great products for artificial intelligence (AI). Businesses all over the world want to be more efficient and better than their competition, and that's where NVIDIA products come in. NVIDIA's data center business, which includes things like cloud services and AI, is expected to make almost $17 billion in revenue.
Goldman Sachs and Bank of America
Big banks like Goldman Sachs and Bank of America have also said they think NVIDIA will do really well. They've said NVIDIA's stock is worth more money than they thought before. This makes investors feel really good because it means experts think the company is going to keep doing well. It's like a fresh wave of good feelings that is helping NVIDIA get even higher.
Overall, NVIDIA's earnings news is super important, and the company has done a great job because of their AI products and what the big banks have said. Basically, NVIDIA is a big deal in the technology world.
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