Nvidia CEO Jen-Hsun Huang speaks at Computex 2024 in Taipei on June 4, 2024.
Zheng Yihua | AFP | Getty Images
NVIDIA Second-quarter earnings will be released after the market close on Wednesday.
Here’s what Wall Street expects for the chipmaker’s quarter ending in July, according to LSEG estimates:
- Earnings per share: 64 cents adjusted
- income: US$28.7 billion
Nvidia is a major beneficiary of the current artificial intelligence boom. Its market capitalization has expanded more than ninefold since the end of 2022.
Investors will be looking for signs that demand for artificial intelligence remains high. While analysts on Wednesday expected Nvidia to post its fourth consecutive quarter of triple-digit revenue growth, year-over-year comparisons are starting to get tougher, with overall growth expected to slow over the next seven quarters.
Nvidia’s October quarter forecast will be critical in justifying the company’s stock price. Analysts expected earnings of 71 cents per share, sales of $31.8 billion, and annual revenue growth of approximately 77%.
Nvidia Chief Financial Officer Colette Kress is likely to provide some data points to investors on a conference call with analysts describing the return on investment her customers are getting from Nvidia orders.
Investors also want to know when Nvidia’s next-generation Blackwell AI chip will be launched. Earlier this year, Nvidia Chief Executive Jensen Huang said the company would generate “substantial” revenue from new chips this year, but analysts and media reports suggested the new chips could be delayed.
Even if Blackwell is likely to be delayed, that revenue could be pushed to a future quarter while boosting sales of current-generation Hoppers, especially the newer H200 chips.
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