Nvidia is poised to report a phenomenal first quarter for fiscal 2024, with analysts predicting significant growth in both earnings per share (EPS) and revenue. Here's a breakdown of the anticipated surge:
- Earnings Per Share (EPS): Analysts project a staggering 406.4% increase year-over-year, with EPS reaching $5.52.
- Revenue: Revenue is expected to hit a record high of $24.27 billion, reflecting a staggering 237.5% growth compared to the same period last year.
These impressive figures highlight the continued strength of Nvidia's business across various sectors. The company's financial performance is typically measured by key segments:
- Revenue- Gaming
- Revenue- Professional Visualization
- Revenue- Automotive
- Revenue- OEM and Other
- Revenue- Data Center
It's important to note that these are analyst projections, and the actual results may differ. However, Bank of America (BofA) analysts have provided even more optimistic figures, estimating Nvidia's Q1 sales to reach a colossal $26 billion.
While revenue is expected to peak, there's a prediction of a slight decline in gross margins. Analysts anticipate margins to hit 77% in Q1 before settling at 75% to 76% in Q2.
This news comes as no surprise, considering Nvidia's dominance in the graphics processing unit (GPU) market. Their chips are highly sought-after for gaming, artificial intelligence (AI), and data center applications. The continued demand for these powerful processors, coupled with Nvidia's innovative advancements, is fueling this significant growth.
All eyes will be on Nvidia on May 22nd, when they officially report their Q1 earnings. With these sky-high projections, investors are eagerly awaiting confirmation of Nvidia's remarkable financial performance.