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Upcoming Tech Earnings Reports to Watch: NVDA, TSLA, ATVI
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Stocks are down on Friday morning amid a mixed jobs report and varied earnings results from top tech companies like Apple (AAPL - Free Report) , Amazon (AMZN - Free Report) , and Alphabet (GOOGL - Free Report) . Nevertheless, earnings season has been strong across the board, and as Wall Street heads toward the last wave of Q4 reports, many market-moving companies are slated to announce their latest results soon.
After a remarkable 2017, the pressure was on the technology sector to deliver a solid Q4 report season and set the tone for another strong year. So far this season, 73% of the 553 already-reported companies in our “Computers and Technology” group have met or surpassed earnings estimates, so in many ways, the sector has done just that.
But several major tech companies have yet to report, and the upcoming week promises to be another busy stretch. Luckily, investors can always use the Zacks Earnings Calendar to plan out their schedules for earnings, dividend announcements, and other important financial releases. This handy tool is your perfect one-stop-shop to properly prepare for the market events that will have an impact on your own portfolio.
Today, we’ve made that task even easier for you. Using the Earnings Calendar, we looked ahead to next week and selected the biggest technology reports to watch. Make sure to keep an eye on these companies as they prepare to report during the week of February 5.
Electric car giant Tesla is scheduled to release its latest quarterly results after the market closes on Feb. 7. While not technically a “technology” company, tech investors will want to pay close attention to this report given the company’s ability to serve as a bellwether for emerging trends. Shares of Tesla have moved about 11% higher over the past month, but the stock is sporting a Zacks Rank #4 (Sell).
Based on our consensus estimates, we expect Tesla to report a loss of $3.19 per share, down more than 360% more the loss of $0.69 per share it witnessed last year. Revenues are expected to come in at $3.30 billion, up about 44% year-over-year. Tesla said it delivered 29,870 vehicles, which fell short of expectations. The company also recently pushed back production targets for the Model 3.
Graphics chip behemoth Nvidia is slated to release its latest earnings report on Feb. 8. Nvidia has been on fire for well over a year, including another 12% surge over the past month. The stock has emerged as a favorite pick for exposure to AI, self-driving tech, and gaming. NVDA is currently sporting a Zacks Rank #2 (Buy) as we head into its report date.
According to our current consensus estimates, Nvidia is projected to report earnings of $1.16 per share and revenues of $2.66 billion. These results would represent year-over-year growth rates of 17% and 22%, respectively. Gaming-focused GPUs continue to be the company’s bread and butter, but investors should look to see if Nvidia can extend its streak of remarkable growth in its datacenters unit.
3. Activision Blizzard, Inc.
Video game publishing company Activision Blizzard is scheduled to release its most recent quarterly results on Feb. 8. Shares of ATVI have gained more than 13% over the past four weeks, and the stock is currently sporting a Zacks Rank #3 (Hold). Activision’s strong release schedule, including the debut of Call of Duty: WWII, could propel results for the quarter.
Based on our current consensus estimates, ATVI is expected to report earnings of $0.92 per share, which would be flat from the year-ago quarter. Revenues are projected to be $2.61 billion, up more than 6% year-over-year. Investors should note that Call of Duty: WWII reportedly generated $500 million in its first three days of release.
Want more analysis from this author? Make sure to follow @Ryan_McQueeneyon Twitter!
Breaking News: Cryptocurrencies Now Bigger than Visa
The total market cap of all cryptos recently surpassed $700 billion – more than a 3,800% increase in the previous 12 months. They’re now bigger than Morgan Stanley, Goldman Sachs and even Visa! The new asset class may expand even more rapidly in 2018 as new investors continue pouring in and Wall Street becomes increasingly involved.
Zacks’ has just named 4 companies that enable investors to take advantage of the explosive growth.
Image: Bigstock
Upcoming Tech Earnings Reports to Watch: NVDA, TSLA, ATVI
Stocks are down on Friday morning amid a mixed jobs report and varied earnings results from top tech companies like Apple (AAPL - Free Report) , Amazon (AMZN - Free Report) , and Alphabet (GOOGL - Free Report) . Nevertheless, earnings season has been strong across the board, and as Wall Street heads toward the last wave of Q4 reports, many market-moving companies are slated to announce their latest results soon.
After a remarkable 2017, the pressure was on the technology sector to deliver a solid Q4 report season and set the tone for another strong year. So far this season, 73% of the 553 already-reported companies in our “Computers and Technology” group have met or surpassed earnings estimates, so in many ways, the sector has done just that.
But several major tech companies have yet to report, and the upcoming week promises to be another busy stretch. Luckily, investors can always use the Zacks Earnings Calendar to plan out their schedules for earnings, dividend announcements, and other important financial releases. This handy tool is your perfect one-stop-shop to properly prepare for the market events that will have an impact on your own portfolio.
Today, we’ve made that task even easier for you. Using the Earnings Calendar, we looked ahead to next week and selected the biggest technology reports to watch. Make sure to keep an eye on these companies as they prepare to report during the week of February 5.
1. Tesla Inc. (TSLA - Free Report)
Electric car giant Tesla is scheduled to release its latest quarterly results after the market closes on Feb. 7. While not technically a “technology” company, tech investors will want to pay close attention to this report given the company’s ability to serve as a bellwether for emerging trends. Shares of Tesla have moved about 11% higher over the past month, but the stock is sporting a Zacks Rank #4 (Sell).
Based on our consensus estimates, we expect Tesla to report a loss of $3.19 per share, down more than 360% more the loss of $0.69 per share it witnessed last year. Revenues are expected to come in at $3.30 billion, up about 44% year-over-year. Tesla said it delivered 29,870 vehicles, which fell short of expectations. The company also recently pushed back production targets for the Model 3.
2. Nvidia Corporation (NVDA - Free Report)
Graphics chip behemoth Nvidia is slated to release its latest earnings report on Feb. 8. Nvidia has been on fire for well over a year, including another 12% surge over the past month. The stock has emerged as a favorite pick for exposure to AI, self-driving tech, and gaming. NVDA is currently sporting a Zacks Rank #2 (Buy) as we head into its report date.
According to our current consensus estimates, Nvidia is projected to report earnings of $1.16 per share and revenues of $2.66 billion. These results would represent year-over-year growth rates of 17% and 22%, respectively. Gaming-focused GPUs continue to be the company’s bread and butter, but investors should look to see if Nvidia can extend its streak of remarkable growth in its datacenters unit.
3. Activision Blizzard, Inc.
Video game publishing company Activision Blizzard is scheduled to release its most recent quarterly results on Feb. 8. Shares of ATVI have gained more than 13% over the past four weeks, and the stock is currently sporting a Zacks Rank #3 (Hold). Activision’s strong release schedule, including the debut of Call of Duty: WWII, could propel results for the quarter.
Based on our current consensus estimates, ATVI is expected to report earnings of $0.92 per share, which would be flat from the year-ago quarter. Revenues are projected to be $2.61 billion, up more than 6% year-over-year. Investors should note that Call of Duty: WWII reportedly generated $500 million in its first three days of release.
Want more analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
Breaking News: Cryptocurrencies Now Bigger than Visa
The total market cap of all cryptos recently surpassed $700 billion – more than a 3,800% increase in the previous 12 months. They’re now bigger than Morgan Stanley, Goldman Sachs and even Visa! The new asset class may expand even more rapidly in 2018 as new investors continue pouring in and Wall Street becomes increasingly involved.
Zacks’ has just named 4 companies that enable investors to take advantage of the explosive growth.
Click here to access these stocks. >>