Live Earnings: Will NVIDIA (Nasdaq: NVDA) Beat Earnings After the Bell?

We’re updating live coverage of NVIDIA‘s (Nasdaq: NVDA) earnings, with our analyst team at 24/7 Wall St. covering the biggest storylines driving the stock’s after-hours movements. 

Here are the main numbers Wall Street will be watching for when NVIDIA reports: 

• Revenue: $43.24 Billion 
• Operating Earnings: $22.03 Billion 
• EPS: $.75 

If you want to catch up on our coverage, we also updated a live blog throughout the day following many of the key storylines headed into today’s earnings. 

3 Key Stories to Watch 

The moment NVIDIA reports, its stock will move depending on the size of its earnings beat. However, keep in mind that the reaction from the market tomorrow and in the following days and weeks will be driven by what NVIDIA says on its conference call. For example, last quarter NVIDIA reported adjusted earnings of $.89 per share which was comfortably above Wall Street’s expectations of $.85 per share. 

However, its share price plummeted 8.5% the next day as commentary about gross margins led to many more cautious notes from Wall Street banks following earnings. Here are some key stories we’ll be watching tonight:

1. NVIDIA’s Earnings Beat this Quarter Won’t Matter as Much as Guidance 

Just two months ago, Wall Street expected NVIDIA to report $.93 in adjusted EPS this quarter, but that dumber has plummeted down to $.75 per share. Why is that?

Geopolitical concerns have taken center stage for NVIDIA. New export controls forced the company to take a $5.5 billion writedown on its export-compliant H20 chips designed for China. With Chinese sales winding down sometime in the first quarter, its unclear how much inventory NVIDIA shipped to China before these new rules took effect. In addition, confusion around tariffs may have led to shifts in order volume that are hard for Wall Street to properly track. 

This all means that whether NVIDIA reports $.77, $.78, or $.79 in earnings this quarter matters a lot less than its 1.) Guidance for the fiscal second quarter and 2.) Its commentary about how demand looks in the second half of the year. 

2. What Updated Blackwell Numbers Will NVIDIA provide

Last quarter, NVIDIA managed to top expectations thanks to the surprising growth of its Blackwell chips. While there’s no question that demand for Blackwell chips is red-hot, NVIDIA and the server supply chain it works with have struggled to scale up deliveries. For example, many of NVIDIA’s server partners (like Dell and Supermicro) have been dealing with challenges liquid cooling top-end Blackwell racks that can cost millions of dollars per system. 

Reports are that there have been breakthroughs recently that will allow NVIDIA’s partners to ship significantly higher volumes of Blackwell systems. If this is the case, NVIDIA could provide more ‘rosy’ commentary on its conference call that would send shares soaring tomorrow. 

3. How Can New Deals Drive Long-Term Results?

While NVIDIA has been dealt recent blows that limit its sales to China, it has also won significant contracts brokered by the Trump Administration to other areas like the Middle East. In addition, the Trump Administration continues to work on revised ‘diffusion’ rules that could have significant impacts on NVIDIA’s ability to ship chips across the globe. Watch for commentry about how these ‘Sovereign AI’ deals could lead to a new demand channel that makes NVIDIA less reliant on hyperscaler customers like Microsoft, Amazon, Meta, and Google. 

Remember, this is a live blog post that will continue to be updated after NVIDIA announces earnings. If you’re not seeing new updates make sure to refresh this page as our analysts will be breaking down all the need-to-know information following NVIDIA’s 2025 fiscal first quarter earnings release. 

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