Nvidia reported solid earnings late Wednesday but provided a revenue forecast for the July quarter that was below expectations. For its April quarter, the semiconductor company reported adjusted earnings per share of 81 cents,

AI chip giant Nvidia, the second-most valuable company in the world, could move the entire stock market when it reports quarterly results after markets close on Wednesday.

FactSet estimates see first-quarter earnings of $0.73 per share and revenue of $43.3 billion, up 66 percent from a year ago. While that sounds strong in a vacuum, it’s a slowdown from the triple-digit expansion Nvidia posted in 2024, when revenue was up 262 percent year-over-year the same quarter.