The approaching 2024 Q3 earnings season promises a riveting spectacle as it gears up for the unveiling of major bank results this Friday. Despite recent downward revisions, the outlook appears promising, with anticipated positive earnings growth setting an optimistic tone.
Stay abreast of all quarterly revelations: Scrutinize Zacks Earnings Calendar diligently.
Let’s delve into the key reports from various sectors.
Nvidia’s Remarkable Data Center Performance
Nvidia’s NVDA astronomical success eludes adequate description, with a stellar performance driven by the relentless AI wave leading to exceptional market gains. Despite relative share stability in recent months, upcoming forecasts continue to exude confidence.
The $0.74 Zacks Consensus EPS prediction has soared nearly 9% since mid-July, anticipating a substantial 85% surge from the prior-year period. Revenue estimates remain bullish at $32.6 billion, reflecting a robust 7% increase year over year.
The spotlight, as always, will be on the Data Center results, consistently outperforming our consensus estimates by a significant margin over the last five quarters.
Tesla, a trailblazer in the EV realm akin to the illustrious Mag 7 clan, will also take the stage with its quarterly unveiling gaining insights into the current EV industry landscape. Recent performance boasts a commendable 11% surge in shares over the past month.
McDonald’s Confronting Bearish Projections
The upcoming MCD quarterly release is poised to serve as a barometer of consumer sentiment, especially amidst a recent dip in restaurant foot traffic attributed to elevated menu prices. However, recent value propositions might help bridge the gap.
Earnings prospects for the fast-food giant have dwindled in recent months, with the current $3.15 Zacks Consensus EPS forecast marking a 4.5% decline, indicating a 1.2% retreat from the comparable period last year.
Revenue expectations shadow a similar trajectory, with McDonald’s anticipated to rake in $6.7 billion during the period, representing a modest 1% uptick year over year. The company’s sales growth rates have been dwindling steadily, as the chart illustrates the year-over-year sales change.
Insight into Tesla’s EV Numbers
Despite a commendable recent stock performance, Tesla’s upcoming period lays bare prevailing bearish sentiments, with the $0.57 Zacks Consensus EPS estimate slumping nearly 10% since mid-July.
The pivotal metric for Tesla remains the company’s EV production and delivery figures. Recent statistics indicate Tesla’s delivery of roughly 463k EVs and production of nearly 470k units during the period.
As the Q3 earnings season unfolds, with big banks unraveling their results this week, a positive outlook prevails, anticipating growth in S&P 500 earnings.
Infrastructure Stock Boom to Sweep America
A colossal endeavor to revamp the dilapidated U.S. infrastructure is on the horizon—a bipartisan, pressing, and unavoidable undertaking. Trillions will be poured into this project, forging fortunes along the way.
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