Nvidia reports fiscal second-quarter results after Wednesday's close, with analysts forecasting revenue up 97% to $92.1 billion. The stock has fallen in the days following each of its last four earnings reports, and questions over supply constraints and financing structures could shape how investors read this week's numbers.
Nvidia (NASDAQ: NVDA) reports its fiscal second-quarter results after the market closes on Wednesday, and analysts see revenue soaring 97% to $92.1 billion, the company's biggest jump in two years. That would mark Nvidia's fourth straight quarter of accelerating year-over-year growth, following gains of 56% in Q2 FY2026, 63% in Q3 FY2026, 73% in Q4 FY2026 and 85% in Q1 FY2027.
Growth is expected to decelerate this quarter
Even so, analysts see top-line growth decelerating to 82% for the current quarter, and to 44% for all of fiscal 2028. Most companies would celebrate that pace, but after a year of accelerating growth, the market is bracing for a slowdown. Wednesday's report gives Nvidia its first chance to beat that expectation with a rosier near-term outlook.
The stock has fallen after each of the last four reports
Nvidia has beaten Wall Street's profit targets four straight quarters, with beats between 3% and 6%. Analysts keep raising their income estimates; five of them raised expectations for this quarter's report in the past month alone. Yet Nvidia shares have fallen in the days following each of its last four earnings reports, with the declines lasting about a week or longer.
The stock clawed back each time, trading higher by the next quarterly update. This time, though, Nvidia will be lower than it was at its previous financial update in May unless it rallies through the first three trading days of this week. That break in the pattern could work in Nvidia's favor, potentially delivering the stock's first initial gain on earnings day in more than a year.
Risks outside Nvidia's control weigh on the report
Nvidia shares have gained 23% over the past year, barely ahead of the broader market, while smaller Nvidia competitors, memory makers and other AI-related businesses have fared better. Whether a shortage of storage manufacturing or growing resentment of data center build-outs could slow Nvidia's ability to meet demand, whether investors will turn on surging AI capital expenditures, and whether circular financing deals used to fund that growth amount to a house of cards remain open questions. Every word CEO Jensen Huang offers on Wednesday will be weighed against them.
Nvidia's market cap stood at $5.2 trillion as shares traded around $214.72, and the stock enters the report trading at 24 times this fiscal year's earnings and 16 times next year's target.
Source: The Motley Fool
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