Nvidia Corp. faces a high hurdle with its upcoming earnings — such that the company likely needs a big beat to satisfy Wall Street. That’s according to Susquehanna analyst Christopher Rolland, who thinks “the bar has been raised” for Nvidia
NVDA,
-3.82%
to the point where the company needs to top revenue expectations by at least $1.5 billion when it posts results later Wednesday.
The FactSet consensus is for $20.4 billion in fiscal fourth-quarter revenue along with $4.59 in adjusted earnings per share. Revenue is expected to more than triple, while adjusted EPS is projected to climb by more than 400%. “In short, we expect another strong print but think investors have largely priced in this near-term upside, with size of the beat the real debatable point,” Rolland wrote last week. Nvidia’s stock has risen nearly 40% since the company last posted results, contributing to “a high bar for execution.” Nvidia’s upcoming report will cap off fiscal 2024, and investor attention will move to expectations for the new fiscal year. Rolland, for his part, thinks the chip giant could rake in $99 billion in revenue for the period, above the FactSet consensus, which is for $95.4 billion, but “perhaps closer to the whisper number” anticipated by the buy side. The company will host its annual GTC developer conference next month, which could be a stock catalyst. Wall Street is also looking ahead to the launch of the company’s B100 chip, expected later this year. For that reason, there’s interest in w …
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NVDA,
-3.82%
to the point where the company needs to top revenue expectations by at least $1.5 billion when it posts results later Wednesday.
The FactSet consensus is for $20.4 billion in fiscal fourth-quarter revenue along with $4.59 in adjusted earnings per share. Revenue is expected to more than triple, while adjusted EPS is projected to climb by more than 400%. “In short, we expect another strong print but think investors have largely priced in this near-term upside, with size of the beat the real debatable point,” Rolland wrote last week. Nvidia’s stock has risen nearly 40% since the company last posted results, contributing to “a high bar for execution.” Nvidia’s upcoming report will cap off fiscal 2024, and investor attention will move to expectations for the new fiscal year. Rolland, for his part, thinks the chip giant could rake in $99 billion in revenue for the period, above the FactSet consensus, which is for $95.4 billion, but “perhaps closer to the whisper number” anticipated by the buy side. The company will host its annual GTC developer conference next month, which could be a stock catalyst. Wall Street is also looking ahead to the launch of the company’s B100 chip, expected later this year. For that reason, there’s interest in w …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]