Nvidia is set to report second-quarter results after the U.S. stock market closes today, with Wall Street expectations running high. FactSet data shows analysts expect quarterly revenue to top $92 billion, while a market consensus cited by Cantor Fitzgerald puts third-quarter revenue at $103.7 billion. With expectations already elevated, the report is being treated as a key test for the broader AI trade rather than a routine earnings release. CNBC’s Jim Cramer said Nvidia’s results have become a "referendum on the entire AI trade." Investors are also expected to focus on how dependent Nvidia remains on hyperscale cloud customers such as Amazon, Google, and Microsoft. According to the report, Nvidia has beaten market expectations on multiple revenue metrics over the past year, but its shares still fell on the trading day after each earnings release.
Nvidia is scheduled to report its second-quarter results after the U.S. stock market closes today, with Wall Street expecting quarterly revenue to come in above $92 billion, according to FactSet data.
A market consensus cited by Cantor Fitzgerald projects Nvidia’s third-quarter revenue at $103.7 billion. Because expectations for the company’s results are already running at a high level, this earnings release is being viewed as an important test for the AI trade.
CNBC’s Jim Cramer said Nvidia’s earnings have become a "referendum on the entire AI trade."
Investors are also expected to watch Nvidia’s dependence on hyperscale cloud providers including Amazon, Google, and Microsoft. Over the past year, Nvidia has exceeded market expectations on multiple revenue metrics, but its stock fell on the next trading day after each earnings release.
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