Watch parties are no more only for popular episode premiers and sporting mega-events like the Super Bowl Sunday or the NBA Finals. Yesterday, all eyes were on something much more thrilling (at least for the finance crowd): Nvidia Corp.'s second quarter earnings.
Select bars and pubs across the United States, swapped out their usual sports broadcasts for live TV coverage of Nvidia's earnings report, turning into full-blown 'Earnings Watch Parties'.
Screens flickered not with replays of slam dunks or touchdown celebrations, but with candlestick charts, stock tickers, and the ever-dramatic earnings calls.
One viral post on social media platform X by Bloomberg journalist Joe Weisenthal captured a group of eager fans crowded around a big screen, their eyes glued to the market ticker.
August 28, 2024Another post by journalist Macy A Gilliam showed at least a couple dozen people glued to a live broadcast coverage of Nvidia earnings.
insane ratio at the nvidia earnings watch party pic.twitter.com/zCAbljb4Y9
August 28, 2024Nvidia, already a darling among tech enthusiasts and stock market meme lords, had a lot riding on this quarter's performance.
It didn't take long for netizens to react to these 'earnings watch parties', with some showing their appreciation for the crowd.
Advertisementnot a cell phone in sight. just people living in the moment. https://t.co/TR83T3enyJ
August 28, 2024Analysts had been abuzz for weeks, touting this as the single most important earnings report of the season. Some even went as far as to speculate that the entire market's stability hinged on Nvidia's performance. Traders waited to see whether the AI-induced euphoria has run its course or if the bull market has any sustenance left.
As the clock ticked closer to the release, X was flooded with memes that ranged from "To the Moon!" rallying cries to panic-induced GIFs of people jumping out of moving cars.
Nvidia right now pic.twitter.com/uvJCFd8VeH
August 28, 2024Nvidia's revenue in the second quarter performance shot up to $30 billion, beating estimates, while earnings per share stood at $0.68.
However, its third quarter revenue forecast fell short of the highest estimates on Wall Street. In its earnings call, the chipmaker mentioned that it was facing issues with its new Blackwell design, Bloomberg reported.
AdvertisementThe stock took a beating in the after-hours, suggesting a strong profit-taking sentiment.
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