Nvidia will report earnings for the third quarter of its 2019 fiscal year after the bell Thursday.
Here are the numbers analysts are expecting:
- Earnings: $1.71 per share estimated, per Refinitiv
- Revenue: $3.24 billion estimated, per Refinitiv
Nvidia, like most other tech stocks, was hit hard in October, which was the worst month for the Nasdaq Composite Index since 2008. The stock is now up 4 percent since the beginning of the year.
In its second-quarter earnings, the chipmaker fell short of analyst expectations on guidance despite beating on earnings and revenue estimates.
The bulk of Nvidia’s revenue comes from its gaming chip segment, followed by data center revenue. The company’s cryptocurrency mining products suffered a hefty decline last quarter, which is expected to continue as it has become less profitable to use graphics processing units, or GPUs, for mining, according to a recent analysis by Susquehanna.
To mine cryptocurrency, computers compete to solve complex math problems in exchange for a specific amount of bitcoin or ethereum. But as both currencies have sunk in value, so too has this segment of revenue for Nvidia.
In its second quarter earnings, the company reported a 70 percent sequential drop in revenue for the segment that includes mining, down to $116 million. On the earnings call, Chief Financial Officer Colette Kress said she expects “a negligible contribution going forward” from crypto-specific product revenue.
-CNBC’s Jordan Novet contributed to this report.
