Nvidia (NASDAQ:NVDA) stock has slumped for six consecutive days, reaching its lowest level since August 4. It has fallen nearly 6% from its high this month, with traders now focusing on the upcoming earnings report, which will offer more insight into the company’s performance.
Nvidia May Offer a Bigger Buyback After Earnings
NVDA stock has slumped in the past few days as focus shifts to its earnings report on August 26. As the company has done in the past, chances are that its revenue and earnings growth will be better than expected.
Benzinga data shows analysts estimate Nvidia’s revenue jumped in the second quarter as demand for its GPUs escalated. The average estimate is that revenue rose 96% to $92 billion, with guidance for the third quarter reaching $103 billion.
Its earnings-per-share is expected to move to $2.09 from $1.05 in the same quarter last year. A Polymarket poll has a 96% probability that its EPS will be higher than these estimates.
