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The cryptocurrency market is in the red today, following the slump in US stocks as all eyes turn to Nvidia’s upcoming earnings report. This highly anticipated release is seen as a potential turning point, offering clues on whether the AI-fueled bull market still has legs or if the rally is starting to lose steam.
Nvidia's slower growth prospects hurt Nasdaq, crypto
Analysts surveyed by FactSet expect Nvidia to post second-quarter adjusted earnings of approximately 65 cents per share, with revenue projected at $28.74 billion. This figure represents more than double the revenue from the same quarter in 2023.
However, it also signals a deceleration in growth, as Nvidia’s revenue more than tripled year-over-year in the April quarter. Nvidia's stock was wobbling between gains and losses ahead of the earnings report, taking the Nasdaq 100 on a similar seesaw trend.
Nvidia's slower growth prospects hurt Nasdaq, crypto
Analysts surveyed by FactSet expect Nvidia to post second-quarter adjusted earnings of approximately 65 cents per share, with revenue projected at $28.74 billion. This figure represents more than double the revenue from the same quarter in 2023.
However, it also signals a deceleration in growth, as Nvidia’s revenue more than tripled year-over-year in the April quarter. Nvidia's stock was wobbling between gains and losses ahead of the earnings report, taking the Nasdaq 100 on a similar seesaw trend.
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