Nvidia reports first-quarter earnings after the bell

Following the bell on Wednesday, Nvidia releases its fiscal first-quarter financial report.

Based on LSEG consensus projections, this is what Wall Street anticipates:

Adjusted earnings per share were $5.59.
$24.65 billion in revenue
The chipmaker, which was a specialized manufacturer of 3D gaming gear ten years ago, has emerged as a major player in the technological industry.

Nvidia’s report comes about a year after the company first signaled to investors that it was about to embark on a stretch of torrid growth powered by demand for artificial intelligence chips from companies such as Google, Microsoft, Meta, Amazon and OpenAI.

Revenue has increased by more than 200% in each of the past two quarters, and Wall Street is expecting that trend to continue, with estimates showing a 243% surge in the first quarter from a year earlier. Net income is expected to be up more than fivefold from a year ago.

Nvidia shares have more than tripled since the company reported fiscal first-quarter earnings last year and provided surprisingly strong guidance for the second quarter.

Additionally, Nvidia is beginning to release Blackwell, their next-generation AI GPU. There can be a slowdown in sales of the current technology as some companies may be eyeing the new processors.

Nvidia will face challenging year-over-year comparisons to the early days of AI-driven growth beginning in the fiscal second quarter. According to analysts, expansion will fall below 100% in the July quarter and then sharply slow down in the next two.