In its upcoming report, Nvidia (NVDA) is predicted by Wall Street analysts to post quarterly earnings of $0.85 per share, reflecting an increase of 39.3% compared to the same period last year. Revenues are forecasted to be $42.64 billion, representing a year-over-year increase of 63.7%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.3% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
In light of this perspective, let's dive into the average estimates of certain Nvidia metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts forecast 'Revenue- OEM and Other' to reach $118.18 million. The estimate indicates a year-over-year change of +51.5%.
The collective assessment of analysts points to an estimated 'Revenue- Automotive' of $580.85 million. The estimate indicates a year-over-year change of +76.6%.
It is projected by analysts that the 'Revenue- Professional Visualization' will reach $508.09 million. The estimate points to a change of +19% from the year-ago quarter.
Based on the collective assessment of analysts, 'Revenue- Data Center' should arrive at $38.48 billion. The estimate indicates a change of +70.5% from the prior-year quarter.
Analysts expect 'Revenue- Gaming' to come in at $2.80 billion. The estimate indicates a change of +5.9% from the prior-year quarter.
View all Key Company Metrics for Nvidia here>>>
Shares of Nvidia have demonstrated returns of +24.8% over the past month compared to the Zacks S&P 500 composite's +10.7% change. With a Zacks Rank #3 (Hold), NVDA is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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NVIDIA Corporation (NVDA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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