- Nvidia earnings call will take place after US markets close today, at around 4.20pm ET
- The market has become accustomed to the company beating forecasts, and the weight of expectations today is not different, with EPS growth projected at 120% YoY. A hit or a miss could trigger a broader market disruption.
- Analysts will pay much attention to Blackwell earnings, margins, supply chain issues as well as guidance for the rest of the year
Later this evening, after U.S. markets close, Nvidia is anticipated to deliver what many consider Wall Street’s most closely observed earnings report. The chip manufacturer plans to unveil its fiscal Q1 2027 results, covering the period that concluded on April 26, around 4:20 PM Eastern Time. For investors, analysts, and anyone with a stake in the AI economy, the numbers that follow will matter well beyond Nvidia’s own balance sheet.
What to Expect
Analysts are not entering this report with modest expectations. As reported by Kiplinger, the market consensus projects earnings per share at $1.78. This would mark a substantial 120% increase compared to the previous year, alongside anticipated revenue reaching $79.2 billion, which signifies a 79.5% rise from the same quarter last year. To provide some perspective, Nvidia’s own guidance for the quarter was approximately $78 billion in revenue, with a 2% margin either way.
However, investors will scrutinize several factors beyond the headline numbers in today’s Nvidia earnings call. Management commentary on the ramp-up of next-generation chips, supply chain dynamics, and gross margins will be closely watched. Any updates regarding competition from custom chips developed by major cloud providers or potential impacts from export restrictions will also influence sentiment.
The Blackwell Factor
A significant portion of Nvidia’s current growth narrative is fundamentally tied to its Blackwell GPU architecture. In the previous quarter, Blackwell alone contributed 70% of Nvidia’s data center compute revenue, and the demand for these units persistently outpaces current supply.
CEO Jensen Huang has made no effort to temper ambitions either. He stated at GTC 2026 that Nvidia could generate $1 trillion in revenue by calendar year 2027, and the market is now beginning to seriously price in that figure.
The Effect on the Broader Market
Nvidia’s influence over the financial markets can hardly be overstated. Given that Nvidia’s stock has historically moved 5–10% in either direction following earnings, a company of its size can meaningfully shift sentiment across technology and semiconductor indices in a single session. Consequently, a surprise in either direction will trigger widespread market volatility.
Good numbers could spark fresh interest in chipmakers and related segments, giving a lift to indexes like the Nasdaq. On the flip side, just a small miss or a cautious forecast may stir turbulence. Markets have grown accustomed to Nvidia exceeding expectations, and any perceived softening in AI demand signals could prompt profit-taking.
Strong earnings could boost sentiment across semiconductors and the Nasdaq, validating AI investment themes and supporting broader equity gains.
With a multi-trillion-dollar market cap and central role in AI infrastructure, its performance sways investor confidence in technology broadly.
Blackwell drove 70% of data center compute revenue last quarter and remains the primary engine of Nvidia’s extraordinary growth.
