Nvidia earnings are today. Here's what Wall Street expects

Chip design leader Nvidia (NVDA+4.60%) plans to report earnings for the fiscal third quarter on Wednesday.

The chipmaker is expected to report revenues of $33 billion for the third quarter of fiscal year 2025, according to analysts’ estimates compiled by FactSet. Net income is expected to be $17.4 billion and earnings per share is expected to be $0.75.

Nvidia reported revenues of $30 billion for the second fiscal quarter. The company’s shares are up 204.7% so far this year.

Despite beating Wall Street’s expectations with its second-quarter results, the company’s shares fell during after-hours trading and into the morning due to unimpressed investors who sought higher revenue guidance. Nvidia set third-quarter revenue guidance at $32.5 billion, plus or minus 2% — above the average that analysts were expecting, but below top-end estimates.

“The market was clearly hoping for another blowout where expectations were pushed up yet again,” Richard Windsor, founder of research company Radio Free Mobile, said in a note. However, Windsor said “Nvidia has much better visibility than it is implying,” and said he expects around $34 billion for the third quarter.

Earlier this month, Nvidia again became the most valuable public company in the world after its shares rose, pushing its market cap past Apple’s (AAPL+0.07%). The chipmaker recently announced that Japan’s SoftBank Group (SFTBY+10.75%) will be the first customer to receive its highly anticipated Blackwell artificial intelligence chips. SoftBank plans to build Japan’s most powerful AI supercomputer with Nvidia’s technology.

In October, Nvidia chief executive Jensen Huang said the company had fixed a design flaw that caused delays with producing and shipping Blackwell.

“It was functional, but the design flaw caused the yield to be low,” Huang said, according to Reuters. “It was 100% Nvidia’s fault.”

The chipmaker worked with its partner, Taiwan Semiconductor Manufacturing Company (TSM+2.30%) to resolve the engineering setback, Huang said. In August, Nvidia’s stock fell around 8% after a report said Blackwell’s production was delayed due to the flaw, possibly setting deliveries back by three or so months and impacting major customers such as Google (GOOGL-0.09%) and Microsoft (MSFT+3.83%).