Nvidia reports impressive earnings

Nvidia earnings and BoC Macklem speech take center stage

By Nadia Elbilassy | @Nadia Elbilassy | 22 November 2023

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  • Nvidia exceeded Q3 expectations with $4.02 EPS and $18.12 billion revenue.

  • The company’s Q4 outlook predicts $20 billion revenue, but China export restrictions contribute to share downturn.

  • The Canadian dollar holds at 1.3700 despite softer inflation easing to 3.1% in October.

On the Market Watch!

Nvidia Q3 earnings

Nvidia delivered impressive third-quarter results overnight, surpassing expectations with adjusted earnings per share (EPS) at $4.02 and revenue totaling $18.12 billion. Mainly over strong performance with demand for AI-driven chips, particularly in the high-margin data center segment.

The estimates according to analysts’ expectations projected EPS of $3.36 on revenue of $16.18 billion.

In the fiscal fourth quarter outlook, Nvidia anticipates revenue around $20 billion This forecast exceeds analyst predictions which is estimated to be at $17.91 billion. The robust guidance contrasts with potential revenue challenges in China, which is expected to be affected due to U.S. export restrictions on AI chips to China.


The Canadian dollar is holding firm around the significant 1.3700 level, despite recent indications of softer inflation in Canada, raising the possibility of a more dovish stance from the Bank of Canada (BoC).

The annual inflation growth in Canada slowed to 3.1% in October, down from 3.8% in September, while the core index recorded 2.7%, compared to 2.8%.

On the calendar, BoC Governor Tiff Macklem's is scheduled to have a speech today which will be closely watched as analysts have started predicating a potential cumulative rate cut of around 80 basis points by December 2024, with expectations of policy easing to commence between April and June.