Revenues are expected to be $7.12 billion, up 9.5% from the year-ago quarter. This maker of graphics chips for gaming and artificial intelligence is expected to post quarterly earnings of $0.59 per share in its upcoming report, which represents a year-over-year change of -43.3%. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. On the other hand, if they miss, the stock may move lower. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 24.

While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. Wall Street expects a year-over-year decline in earnings on higher revenues when Nvidia (NVDA) reports results for the quarter ended July 2022.

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