NVIDIA Earnings Nov. 17: Street Sees $109B Revenue, 106% Growth, But Buyer Cuts and Export Risk Loom
NVDA is trading near its 52-week low of $164.27 (15% above the low).
Summary
NVIDIA reports fiscal Q3 on November 17, with analysts expecting EPS of $2.48 on revenue of $109.17 billion, versus $1.30 and $57.01 billion a year earlier. That is roughly double, and it follows the Q2 print where revenue doubled to $96.2 billion and Data Center grew 117%. The bigger news in this piece is on the demand side: NVIDIA reportedly cut about half its preapproved Asian buyers and is asking data-center and cloud partners to route at least 51% of services to non-Chinese firms, a direct response to U.S. scrutiny of chip access. Republicans are also planning tighter export controls that could hit NVIDIA's China business, and the company is expanding chip-tracking in Southeast Asia to fight smuggling. On the risk side, NVIDIA's five-year CDS spread hit record highs recently, and investor George Noble is flagging the company's customer financing and startup investments as a possible vendor-financing loop reminiscent of Cisco in the late 1990s — the same concern that hangs over the $500 billion AI-compute financing platforms with Apollo, Blackstone, BlackRock, Brookfield, Goldman and KKR. Supply, particularly advanced packaging, remains the binding constraint on how much of that $109 billion the company can actually ship. Watch the November 17 print and the Q4 guide for whether the buyer restrictions and export rules show up in the China line.
At the time of this announcement, NVDA was trading at $188.70 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.5T. The 52-week trading range was $164.27 to $243.37. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Wiseek News.