Nvidia’s beaten earnings seven quarters in a row — can it make it eight?

It’s all eyes on Nvidia today, as traders position themselves ahead of the company’s Q3 FY25 results, expected after the close, which — as Luke Kawa pointed out — is really the only major market event left of the year.

The AI darling of all AI darlings, Nvidia’s market cap has soared in the last 18 months, unseating Apple to become the world’s largest company thanks primarily to the unprecedented results of its data-center division. That business has helped Nvidia beat earnings estimates seven times in a row, per data from FactSet, though the scale of each earnings beat has narrowed consistently. In the last five quarters, Nvidia has beaten expectations on the top line (revenue) by: 21%, 11%, 8%, 6%, and 4%. The earnings surprises have drifted lower in a similar fashion: 30%, 19%, 12%, 9%, and 5%.

For 3Q FY25, analysts are expecting data center revenues to hit $28.84 billion, accounting for 87% of total sales, which are forecast to hit $33.17 billion. Profits (net income) are expected to rise 89% year on year. Can Jensen Huang pull off another spectacular quarter? We’re about to find out.

Related reading: Nvidia is the Bo Jackson of the stock market.