Nvidia Earnings: All you need to know



US stocks are down of late, but will they find relief soon?



We look to the world's most valuable company.

Nvidia is set to unveil its latest quarterly earnings after US markets close at 8:00 PM UTC today.

As an update to what we shared on Monday, May 18th:

Nvidia's stock prices are forecasted to react with a 5.5% up/down move.

READ MORE: Nvidia included among out "3 Assets to Watch" this week (May 18-22)



NOTE #1: Post-earnings targets, both upside and downside, in the above chart drawn since Mon, May 18th.

NOTE #2: You can trade Nvidia live during the earnings announcement, and for nearly-24 hours on weekdays.

NOTE #3: With a market cap of US$ 5.34 trillion (prior to US market open on Wed, May 20), the market's reaction to Nvidia's earnings can also move broader US stock indexes such as the S&P 500 (SP500) and Nasdaq 100 (NAS100).



Trade NVIDIA Button







Wall Street Forecasts



Here's what markets are forecasting (pre-earnings) for Q1 FY2027 (Jan 26th - April 30th, 2026):

• Revenue: US$79.15B (that would be ~80% growth year-over-year, the fastest pace in over a year - since Q3 FY2025).

• Data center revenue: US$ 73.5 billion

• Adjusted earnings per share (EPS): US$1.78 (130% growth year-on-year)



More importantly ...

Markets are eager to find out what CEO Jensen Huang and the rest of the Nvidia C-suite expect for its future earnings.

Here's what markets are forecasting (pre-earnings) for Q2 FY2027 (May-July 2026):

• Revenue: US$87.2B (that would be ~87% growth year-over-year, a new fastest pace since Q3 FY2025).

• Adjusted earnings per share (EPS): US$1.96 (101.5% growth year-on-year)

Should Nvidia hint of slowing earnings growth ahead, that could heap more downward pressure on its shares.







Recent track record



Nvidia has now beaten and raised guidance (outperformed market expectations) for 13 straight quarters!

It remains to be seen whether another beat-and-raise announcement overnight can help lift this stock (and other AI stocks) higher.

So far in 2026, this stock has "only" risen 18.3%, lagging behind other tech names such as Alphabet (+23%), AMD (+93%), or even Sandisk (+483%)!

Over the next 12 months, Wall Street analysts predict that Nvidia shares can rise a further 25.6% - and that's based on forecasts prior to today's earnings release.

Analysts are bound to revise their 12-month targets after the overnight announcement as well - though such revisions could be higher or lower.





What investors are really watching



Besides the earlier-mentioned numbers surrounding Q2 FY2027 and full-year earnings guidance:

• Rubin chip ramp: Can Nvidia accelerate production of its next-gen GPU lineup?

• $1 trillion data center target: Any update on the path to this milestone will move the stock.

• China chip sales: Reports suggest the US approved sales of H200 chips to 10 Chinese customers — watch for commentary.

• Memory supply crunch: Morgan Stanley flagged this as a key risk to monitor.

• Out-muscling competition: The likes of AMD, Broadcom, even Alphabet's Google are finding new ways to claim a bigger slice of the AI spending pie. Can Nvidia still sit comfortably on its AI throne?





Will an Nvidia beat-and-raise be enough to offset inflation fears?



Here's the current market backdrop, leading up to Nvidia's highly-anticipated earnings announcement

• Rising bond yields (30-year US Treasury hit highest in 2 decades at 5.2%) are creating headwinds for AI-heavy trades.

• "Long global semiconductors" is the most crowded trade in BofA survey history at 73% of fund managers.







Potential Scenarios (first published Monday, May 18th)

• UPSIDE: Assuming inflation woes have also eased by then, a bullish AI-fuelled earnings outlook for Nvidia may push its share prices to a new record high at $241.00.

• DOWNSIDE: Failing to meet the market's lofty expectations on sustained AI-capex spending (which feeds Nvidia's earnings) could drag this stock down to $213.83 - around its previous cycle high in late-April, or perhaps even lower if inflation woes don't subside.





Bottom line: The backward-looking numbers are almost expected to be great.

The real question is what Jensen Huang says about the road ahead.

It remains to be seen whether Nvidia's earnings outlook can re-ignite the AI trade, despite the ongoing concerns surrounding surging bond yields / inflation stemming from higher oil prices due to the Iran war.

READ MORE: 3 assets that can help beat the "inflation storm" in 2026







DISCLAIMER:

This article is provided for general information and reflects the author's views only. It does not constitute investment advice, nor an offer or solicitation to buy or sell any financial instruments or digital assets. Your ability to access or use any products or services mentioned may be subject to the laws and regulatory requirements of your jurisdiction.