Nvidia ( NVDA 0.66%) earnings have become quite the event for investors. Given the company's growth over the past two years, observers are curious about what each quarterly result will bring. Nvidia's rise has been a significant driving force behind the growth of the broader stock market, so continued success is key for every investor.

Nvidia reported fiscal third-quarter earnings after Wednesday's closing bell. MarketWatch will be breaking down the results.

As of the time of writing, shares are down by around 3% despite better-than-expected third-quarter earnings and a buoyant market for artificial intelligence (AI) hardware. Despite being the largest company in the world with a market cap of $3.

When Nvidia lifted the hood on its first-quarter operating results in May, it reported a scorching-hot gross margin of 78.4%. The dramatic increase the company has enjoyed in its gross margin is a function of AI-GPU scarcity and its aforementioned exceptional pricing power.

Nvidia (NASDAQ: NVDA) stock has roared higher in recent years -- and it's continued with that momentum this year, as it's heading for a gain of more than 185%. Nvidia has become the "go to" company for AI and counts the world's top tech companies as its customers.

Nvidia (NASDAQ: NVDA) stuck to tradition when it reported third-quarter earnings last week. It's easy to understand why Nvidia has been delivering such excellent surprises to investors quarter after quarter.