Nvidia earnings after the close. What to expect.
Nvidia will announce its fiscal Q1 2027 earnings report after the close today, May 20, with Wall Street expecting earnings of $1.78 per share — up 120% year over year ($0.81) — on revenue of approximately $79.2 billion, representing roughly 79.5% growth compared to the same period last year ($44.06 billion). The company itself has guided for $78 billion in revenue, plus or minus 2%, with gross margins expected to hold near 75%.
The Data Center segment remains Nvidia’s primary earnings engine, fueled by robust Blackwell platform shipments and surging demand for AI training and inference workloads. Analysts are forecasting Data Center revenue of roughly $72.85 billion, up an estimated 86% year over year. Blackwell now drives close to 70% of data center compute, meaning its margin trajectory and unit economics — not just shipment volume — are the central question heading into tonight’s print.
China remains the highest-variance factor in the report. CEO Jensen Huang has previously acknowledged that Nvidia’s market share in the region has effectively fallen to zero due to ongoing export control pressures, and management has excluded China entirely from forward guidance. Investors will be listening closely for any commentary around a potential reopening or localized strategy that could restore a meaningful revenue avenue.
Despite expectations for another strong beat, the stock’s reaction is far from guaranteed. Nvidia has sold off after each of its last three earnings reports, even while exceeding estimates.
Analysts suggest a beat at the $78–79 billion range may not be enough — the buy-side whisper number is closer to $80 billion or above. More importantly, Q2 guidance will need to come in well above the $86.6 billion consensus to give bulls a new narrative to rally around. The press release is expected around 4:20 PM ET, with the conference call to follow at 5:00 PM ET.
Technically, the price is up $2.54 or 1.15% at $223.17. The high price today reach $226.13, while the low price extended to $220.50. The 2025 December 29 high price reached $212.19. That level along with the 38.2% retracement of the move up from the March 30 low at $208.93 is the closest support target. Below that and traders would look toward the 50% midpoint at $200.41 of the same move to the upside. There is a swing area between $195.62 and $200.41. A move to the 50% midpoint from current levels would be about a 9.1% decline.
On the top side, getting above the high from last week at $236.54 would be more bullish.
This article was written by Greg Michalowski at investinglive.com.