While Nvidia has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? Nvidia shares have added about 108.4% since the beginning of the year versus the S&P 500's gain of 4.9%. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. The company has topped consensus revenue estimates four times over the last four quarters. This compares to year-ago revenues of $2.58 billion. Nvidia, which belongs to the Zacks Semiconductor - General industry, posted revenues of $3.87 billion for the quarter ended July 2020, surpassing the Zacks Consensus Estimate by 5.79%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

A quarter ago, it was expected that this maker of graphics chips for gaming and artificial intelligence would post earnings of $1.69 per share when it actually produced earnings of $1.80, delivering a surprise of 6.51%. This quarterly report represents an earnings surprise of 12.37%. These figures are adjusted for non-recurring items. This compares to earnings of $1.24 per share a year ago. Nvidia ( NVDA Quick Quote NVDA - Free Report) came out with quarterly earnings of $2.18 per share, beating the Zacks Consensus Estimate of $1.94 per share.

Nvda earnings outlook