Nvidia Earnings Report Coming Soon
The largest company worldwide by market capitalization at $4.4 trillion, Nvidia (NVDA) is set to announce its earnings after the U.S. market closes on Wednesday.
Data from Bitcoindata21 on X reveals that Nvidia’s earnings have historically shown a positive correlation with Bitcoin’s performance. Of the last 10 earnings reports since the beginning of the current bull market in early 2023, Bitcoin has experienced positive price action in 7 out of those 10 instances following Nvidia’s results.
For this quarter, analysts are anticipating that Nvidia will report adjusted earnings per share of $1.01 with revenue projected at $46.2 billion.
As noted by The Kobeissi Letter, the options market is estimating a 6.1% implied move for Nvidia following the earnings report. This implies a potential fluctuation of approximately $270 billion in market capitalization. While this may seem significant, it would actually represent the smallest implied swing since May 2023.
Nvidia’s shares have risen by 30% year to date and 41% over the past year, although they are slightly down in early trading on Wednesday in anticipation of the quarterly results.
