Nvidia: Q3 Earnings Review
Third-quarter revenue increased 34% from the prior quarter and 206% from a year ago, reflecting how increased demand for AI has boosted the company’s sales throughout 2023.
The company’s revenue guidance for the current quarter also topped estimates, coming in at $20 billion.
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S&P500: Q3 Earnings
S&P 500 Q3 earnings increased for the first time since last year, with average EPS up 4% year over year. If energy is excluded, the result is more impressive at +10% growth.
S&P 500 EPS forecasts for the full year are $225, (largely the same as 2022), and in 2024 EPS growth is forecast to increase 5% to $237.
At 4500 points the S&P500 is trading at 20x forward EPS.
S&P500: 5 year graph
US ISM manufacturing index logged its twelfth straight month in contractionary territory for October, suggesting slowing economic activity. However, labour market conditions remain tight.
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Oil
5-year graph of oil.
Gold
5-year graph of gold.
S&P500
The S&P500 was down 4.87% in September, bringing its YTD return to 11.68%. The Dow continued to significantly trail the S&P 500 YTD, up 1.09%.
WTI Crude: 5-Year Graph
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