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Nvidia CEO Jensen Huang stands on the mound (Thearon W. Henderson/Getty Images)

What Wall Street expects from Nvidia’s fourth-quarter earnings report

A big day for the $3 trillion chip designer.

Luke Kawa

Nvidia is on the move higher in the premarket trading — a welcome change for stock bulls after the $3 trillion chip designer had been limping into the release of its fourth-quarter earnings, due after the close on Wednesday.

The stakes of what this report means for the stock have gone up in recent sessions: the options-implied earnings move is now up to nearly plus or minus 10%.

Here’s what Wall Street’s expecting from the fourth-quarter results:

At a more macro level, traders will be looking for numbers and commentary good enough to serve as a circuit breaker and stanch the bloodletting in momentum stocks. Or not.

“It’s now been the biggest four-day decline for the S&P 500 since early September, and the Magnificent 7 was back in technical correction territory, having now shed more than -10% since their peak back in December,” Deutsche Bank macro strategist Jim Reid wrote. “That’s heightening the focus on Nvidia’s earnings after the US close tonight.”

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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