Nvidia Q1 2024 earnings on deck, what to expect
Justin Sullivan/Getty Images News

Nvidia (NASDAQ:NVDA) is scheduled to announce Q1 earnings results on Wednesday, May 24th, after market close.
The consensus EPS estimate is $0.92 and the consensus revenue estimate is $6.52 billion.
Over the last 2 years, NVDA has beaten EPS estimates 75% of the time and has beaten revenue estimates 100% of the time.

Over the last 3 months, EPS estimates have seen 21 upward revisions and 6 downward. Revenue estimates have seen 17 upward revisions and 8 downward.
The company on Feb. 22 reported Q4 Non-GAAP EPS of $0.88, beating estimates by 8 cents. Revenue of $6.05 billion was down 20.8% from last year but ahead of expectations by at least $30 million.
NVDA has a Quant rating of "Hold", with a 3.49 rating score.
NVDA has an industry ranking of 11 out of 68 among semiconductor stocks, as per SA's Quant ranking.
Wall Street analysts rate the NVDA stock "Buy" and Seeking Alpha authors rate it "Hold".

Recent Analysis: Seeking Alpha contributor Dair Sansyzbayev wrote in a recently published analysis, "NVDA stock is massively overvalued and expectations that are priced in are very far from consensus earnings estimates. I see the risk that AI mania might continue, but this will not last infinitely. Given the extent of overvaluation together with the current challenging macro environment, which is expected to worsen, I consider that unfavorable factors vastly outweigh the potential of an AI frenzy to fuel further stock price growth."
Contributor Business Quant highlighted in their latest report that Nvidiaâs shares are trading at over 28 times the company's trailing twelve-month sales, which is "extremely high" on a standalone basis. Business Quant claims the high valuation doesnât seem justified for a business thatâs likely to experience "a growth slowdown".
Other analysis on NVDA: Nvidia Stock May Drop Sharply On Q1 Results by Cavenagh Research.

Nvidia Earnings Preview: I Am Out by Tradevestor.
NVDA stock fell 51.4% in 2022, while the benchmark S&P 500 index slipped nearly 20% for the year.
Stock has more than doubled in value so far this year as of Monday's close.