Nvidia is expected to report Q3 earnings per share (EPS) of $0.74 on revenue of $33.2 billion, according to analysts' estimates compiled by Bloomberg. That works out to an 83% year-over-year increase on both the top and bottom lines compared to the same period last year when Nvidia saw EPS of $0.40 on revenue of $22.1 billion.

Nvidia pulls back 1% ahead of Q3 results; Wall Street traders brace for $300 billion swing in mcap, stock up 20%% YTD

Options traders price in Nvidia's quarterly results as a more pivotal event for the broader market than the upcoming interest rate decision or the monthly inflation and jobs reports.