According to Fiscal.ai-compiled consensus, Nvidia is expected to report adjusted earnings per share (EPS) of $1 and revenue of $45.51 billion for the second quarter of the fiscal year 2026.
Nvidia Corp. (NVDA), which has a strong foothold in the market for artificial intelligence (AI) chips, is scheduled to report its quarterly results on Wednesday after the market closes. The Santa Clara, California-based company’s results are considered a barometer of the health of the AI revolution that kicked off in late 2022 with the launch of OpenAI’s ChatGPT large-language model.
Nvidia’s stock was up nearly half a percent in the early premarket session.
According to Fiscal.ai-compiled consensus, Nvidia is expected to report adjusted earnings per share (EPS) of $1 and revenue of $45.51 billion for the second quarter of the fiscal year 2026.
At the time of the release of the first-quarter results in May, Nvidia guided to second-quarter revenue of $45 billion, plus or minus 2%, which included $8 billion in H20 related charges, and adjusted gross margins of 72%, plus or minus 50 basis points.
H20 is Nvidia’s China-specific AI chip launched after the previous Biden administration imposed curbs on exports to China. President Donald Trump’s White House placed a ban on this chip in April, although it allowed resumption of the sales earlier this month. Reports stated that Nvidia had to cede a 15% cut on the sales of these chips in China to the U.S. government.
Meanwhile, Trump also signaled that he would allow the sale of a stripped-down version of Nvidia’s chip, based on its most advanced Blackwell architecture, in China.
More details on the China developments could be forthcoming in the earnings report and the management commentary on the earnings call.
Most analysts lifted their price targets for the Nvidia stock in the run-up to the quarterly results:
- Stifel: maintained an ‘Outperform’ rating, raised the price target to $212 from $202
- Baird: reiterated an ‘Outperform’ rating, hiked the price target to $225 from $195.
- Evercore ISI: maintained an ‘Outperform’ rating, upped the price target to $214 from $190
- Morgan Stanley: maintained an ‘Overweight’ rating, raised the price target to $206 from $200
- UBS: maintained a ‘Buy’ rating and lifted the price target to $205 from $175
- Wedbush: maintained an ‘Outperform’ rating and increased the price target to $210 from $175
In a note released last week, Morgan Stanley’s Joseph Moore said, “While the near-term bar is higher now, the 12-month picture across demand, supply, and competitive outlook, all continue to be very favorable.”
“Supply is what matters on the night of the earnings call, but demand is what sets the path into 2026, where all indications are positive.”
The analyst raised his revenue forecast for the July quarter to $46.6 billion and the October quarter outlook to $52.5 billion.
On Stocktwits, retail sentiment toward Nvidia stock remained ‘bullish’ (61/100) by early Wednesday, with the message volume at ‘high’ levels.
The stock is among the top 10 trending equity tickers on the platform early Wednesday.
Nvidia’s stock has gained about 35.5% so far this year.
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