Kress to present Nvidia earnings after Huang’s exit

Nvidia will report quarterly results on Tuesday, November 17, five days after co-founder Jensen Huang resigned as president, chief executive and board member. The company's board said his resignation took effect immediately on November 12. Chief financial officer Colette Kress will serve as interim CEO and keep her finance role until a permanent successor is named. The report will be the first in Huang's 33 years at the company in which he is not running it. Kress will present results while the company is still dealing with a scandal that has shaken the world's largest AI chipmaker.investor.nvidia.com

A week of turmoil

Huang left after reports that he had two affairs, one with a woman US officials suspect of being a Chinese spy and another with senior employee Kimberly Powell, according to the BBC. A person familiar with the matter told CNBC that the board moved to oust him after the second affair was reported. The board named Harvey C. Jones, a former Synopsys CEO, as its first-ever chair. It said it will look at internal and external candidates for the permanent job. "The Board has full confidence in Colette and the leadership team," Jones said, adding that he expects operations and the product roadmap to continue without interruption.cnbc.com+3

Nvidia shares closed more than 4% lower on Thursday and fell again Friday, when the company's market value briefly dropped below $4 trillion. Three House committees have asked Huang to sit for a closed-door interview on December 1. Lawmakers say he has indicated he is willing to appear.bbc.com+2

What investors will watch

Nvidia confirmed it will hold its call at 5 p.m. ET on November 17 to discuss third-quarter results for fiscal 2027, a period that ended October 25. Analysts expect about $109 billion in revenue and adjusted earnings near $2.47 per share, according to FOREX.com. That is in line with the company's guidance of $108 billion, plus or minus 2%. In the prior quarter, revenue was $96.2 billion, and the data center business brought in $89 billion of it.forex.com+1

All of the quarter's results come from Huang's time as CEO, so guidance and Kress's comments are likely to matter more than the numbers themselves. The CNBC Investing Club noted that Huang used earlier calls to forecast AI spending. AI stocks fell Friday partly on concerns that Nvidia's next leader may be less willing to back the wider AI ecosystem with investments and financial guarantees. The Club expects Kress to address whether those commitments will continue, and to discuss Nvidia's exposure to Asia under tighter US export controls.cnbc.com

An uncertain interim

Kress, CFO since 2013, said in the company's announcement that she is "committed to building on the extraordinary foundation Jensen created over the last 33 years." The board's investigation into Huang's conduct, led by law firm Wachtell, Lipton, Rosen & Katz, is still underway. Wedbush analyst Dan Ives told CNBC that Kress's interim role will probably last about a year.finance.yahoo.com+1