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An earnings report from NVIDIA Corporation (NASDAQ:NVDA) will be closely watched by investors and could be a market-leading indicator, a market strategist tells Benzinga ahead of the results coming Aug. 28 after market close.
Nvidia Earnings on Watch: Analysts expect Nvidia to report second-quarter revenue of $28.46 billion, up from $13.51 billion in last year’s second quarter, according to data from Benzinga Pro.
Estimates call for Nvidia to report second-quarter earnings pre share of 64 cents, compared to 27 cents per share in last year’s second quarter.
Nvidia has beaten revenue estimates in seven straight quarters and nine of the last 10 quarters. The company has also beaten earnings per share estimates in six straight quarters and eight of the last 10 quarters.
Freedom Capital Markets Chief Global Strategist Jay Woods emphasized the importance of Nvidia’s earnings report on the market during an interview on Benzinga’s “PreMarket Prep.”
