One of the most valuable companies in the world, NVIDIA Corporation (NASDAQ:NVDA) could serve as a leading market indicator for the technology and semiconductor sectors when it reports second-quarter financial results on Wednesday, Aug. 28 after market close.
Earnings Estimates: Analysts expect Nvidia to report second-quarter revenue of $28.68 billion, according to data from Benzinga Pro.
The company reported revenue of $13.5 billion in last year's second quarter. Nvidia has beaten revenue estimates from analysts in seven straight quarters and nine of the past 10 quarters.
Analysts expect the company to report second-quarter earnings per share of 64 cents compared to 27 cents per share reported in last year's second quarter. The company has beaten earnings estimates in six straight quarters and eight of the past 10 quarters.
Guidance from the company calls for second-quarter revenue to be $28.0 billion, plus or minus 2%.
The earnings report comes with Nvidia shares up 166% year-to-date in 2024, as shown on the Benzinga Pro chart below.
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What Analysts are Saying: Nvidia beating analyst estimates and raising guidance is the expectation from WestPark Capital analyst Kevin Garrigan.
The analyst reiterated a Buy rating and $127.50 price target ahead of the earnings report.
"Revenue will be driven by sequential growth across all end-markets, with the Data Center end-market providing revenue upside," Garrigan said.
The analyst said Hopper demand appears strong ...
