Nvidia Traders Overwhelmingly Expect Earnings Beat

Nvidia's impending earnings announcement has investors on edge, despite traders on Polymarket giving it a near certainty to beat Wall Street's profit forecast. With a 97% chance of exceeding $2.08 per share in adjusted earnings, the chipmaker's confidence is at odds with its recent stock performance.

Nvidia shares snapped a seven-day losing streak on Tuesday but still close 2.19% higher after suffering its longest run of consecutive declines since 2022. The company's worth approximately $5.2 trillion, making it vulnerable to the outcome of this results announcement.

Analysts expect revenue to reach around $92 billion for the quarter ended July 26, in line with management guidance of $91 billion give or take 2%. This represents a growth rate of about 97% from last year's $46.7 billion.

The data centre division is expected to account for nearly $86 billion of this total revenue, assuming no compute revenue from China due to ongoing export restrictions.