Nvidia earnings: What to watch

Chip giant Nvidia (NVDA) is set to report fiscal 2025 first quarter earnings after the bell on Wednesday, May 22. The company's stock has soared more than 80% so far this year. But as Yahoo Finance’s Madison Mills notes “can the chipmaking powerhouse deliver on lofty expectations?”

“Many of the analysts are questioning the further upside and pop it could get from this particular earnings report because expectations are so high,” Yahoo Finance’s Julie Hyman explains. “And, of course, the focus is very much on the forecast for the coming quarter and the second half of the year.”

Yahoo Finance’s Myles Udland adds “the context in which they are reporting has changed quite a bit over the last month in that there’s now much more enthusiasm from investors around what the earnings picture is going to look like, not just in this quarter but over the balance of the year.”

“The stock has actually crushed it over the past year and a half here. So you have to be cautious about when is something going to happen,” Moor Insights & Strategy Founder and CEO Patrick Moorhead says. “The company is going to clearly beat expectations on top line and EPS and will likely see a very positive guide,” Moorhead discusses, basing the analysis off of “two or three core things.” “Demand is off the rails,” development risk is “somewhat low,” and manufacturing. “There could be some risk in manufacturing from TSMC (TSM) and that would be the place to look,” Moorhead notes.

This post was written by Mariela Rosales.

Video transcript

Talk about NVIDIA because it's led the charge once again this year shares up nearly 87% since January 1st markets bra for NVIDIA is highly anticipated earnings results and guidance.

The A I chip darling is announcing its first fiscal first quarter earnings results after the closing bell on Wednesday, capping off reports from America's biggest tech titans.

Big question though, can the chip making powerhouse deliver on lofty expectations?

If we take a look at what our analysts are expecting for earnings, they're expecting a lot of really incredible growth here.

So $5.54 in adjusted earnings per share $24.6 billion in revenue.

Again, most of that is going to be data center.

Many of the analysts are questioning the further upside and pop it could get from this particular earnings report because expectations are so high.

And of course, the focus is very much going to be on the forecast for the coming quarter and the second half of the year, the context in which they are reporting has changed quite a bit over the last month in that there's now much more enthusiasm from investors around what the earnings picture is going to look like not just in this quarter but over the balance of the year, we're really talking about what's 2026 look like for NVIDIA.

What does 2028 look like for NVIDIA?

And how much has that story changed?

The stock has actually crushed it, uh, over the past year and a half years.

So you have to be cautious about when is something going to happen.

And I believe that like we've seen the previous multiple, the company is gonna clearly uh beat expectations on top line uh and EPS and will likely see a very positive guide.

And I based a lot of this analysis on on two or three core things which is look at demand, demand is off the rails.

Uh what's uh development risk somewhat low because it uh Blackwell is very similar to the previous chip they had and then there's manufacturing, it could be some risk in manufacturing uh from TS MC and that would be the place to look.