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Nvidia will have the final word on the AI trade this earnings season.
The tech titan is about to deliver its results for the second quarter, and the stakes are high. After a bout of volatility sent many high-flying AI stocks tumbling this summer — causing a hedge fund meltdown in the process — investors are eager for a bullish catalyst to get the party started again.
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But the bar is high, and the stock isn’t the driver of market gains the way it once was. Nvidia shares are up 14% this year, eclipsed by bigger rallies among other chip makers.
Still, it remains the leader in AI-enabling chip tech, and investors expect another quarter of red-hot growth. Investors will listen for details on the ramp of its next-gen Vera Rubin chip, clarity on vendor financing and its growing web of deals with other tech firms, and implications of open-source models for Nvidia’s total addressable market.
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The results will be published shortly after 4 p.m. ET. The call with analysts will begin at 5 p.m. ET.
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Max Adams
Wall Street expects revenue of $92.3 billion, EPS of $2.09
Second quarter
- Revenue estimate $92.29 billion (Bloomberg Consensus)
- Data center revenue estimate $85.83 billion
- Hyperscale Revenue estimate $43.55 billion
- AI Clouds, Industrial, & Enterprise revenue estimate $41.96
billion - Edge Computing revenue estimate $6.61 billion
- Graphics revenue estimate $7.64 billion
- Compute & Networking revenue estimate $84.69 billion
- Adjusted gross margin estimate 75%
- Adjusted operating expenses estimate $8.32 billion
- Adjusted operating income estimate $61.19 billion
- R&D expenses estimate $7 billion
- Adjusted EPS estimate $2.09
Capital expenditure estimate $1.89 billion
Third quarter
Second quarter
- Revenue estimate $92.29 billion (Bloomberg Consensus)
- Data center revenue estimate $85.83 billion
- Hyperscale Revenue estimate $43.55 billion
- AI Clouds, Industrial, & Enterprise revenue estimate $41.96
billion - Edge Computing revenue estimate $6.61 billion
- Graphics revenue estimate $7.64 billion
- Compute & Networking revenue estimate $84.69 billion
- Adjusted gross margin estimate 75%
- Adjusted operating expenses estimate $8.32 billion
- Adjusted operating income estimate $61.19 billion
- R&D expenses estimate $7 billion
- Adjusted EPS estimate $2.09
Capital expenditure estimate $1.89 billion
Third quarter
- Revenue estimate $104.57 billion
- Adjusted gross margin estimate 74.8%
- Adjusted operating expenses estimate $8.88 billion
Capital expenditure estimate $1.97 billion
2027 year
- Revenue estimate $395.47 billion
- Capital expenditure estimate $8 billion
- Adjusted tax rate estimate 16.8%
Source: Bloomberg
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