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Nvidia doubled its revenue and profit year-over-year in its second quarter, and forecast sales in the current quarter that topped analyst estimates, as red-hot demand for its AI chips continues to bolster the company\u2019s fortunes.<\/p>\n
Revenue in the three months ended July 26 totaled $96.2 billion, up 18% over last quarter and 106% from the year-ago period, the company reported Wednesday\u2014crushing analyst estimates of $92.2 billion. <\/p>\n
In a rare move, the chipmaker provided a revenue growth outlook for fiscal 2028 that forecast annual sales to increase 70% from the prior year. While Nvidia did not provide a specific revenue figure for fiscal 2028, the 70% growth rate is well above the 44% growth expected by analysts. <\/p>\n
Shares of Nvidia which had initially declined slightly after the earnings report, reversed course and increased by more than 5% in after hours trading as company executives discussed the results on the conference call.<\/p>\n
\u201cAI has reached its inflection point. It\u2019s doing useful work. Its tokens are productive and profitable. Now, compute is revenue,\u201d said Jensen Huang, founder and CEO of Nvidia in a statement. \u201cAnd demand is accelerating,\u201d he said. <\/p>\n
For the quarter currently underway, Nvidia guided to revenue of $91 billion plus or minus 2%, outpacing the average analyst expectation of $103.9 billion.<\/p>\n
Data center revenue, the overwhelming majority of Nvidia\u2019s AI business, clocked in at $89 billion, compared to analyst estimates of $85.7 billion. Last quarter, the data center segment produced $75.2 billion in revenue, up 92% from the year prior when revenue was $39.1 billion. Within the data center business, Nvidia reported $48.7 billion in hyperscale revenue and $40.3 billion in AI clouds, industrial, and enterprise (ACIE) revenue, a breakdown the company adopted to make large cloud customers distinct from AI-native clouds, sovereign AI, and on-premises enterprise.\u00a0<\/p>\n
Nvidia reported non-GAAP earnings of $2.22 per diluted share. Analysts had expected $2.06 to $2.09. Last quarter, Nvidia earned $1.87 per share as a non-GAAP figure and $2.39 on a GAAP basis. The company began including stock-based compensation in its non-GAAP results, which makes direct comparisons to previous fiscal years less of an apples-to-apples distinction.<\/p>\n
#Nvidia #doubles #revenue #billion #CEO #Jensen #Huang #demand #accelerating<\/p>\n","protected":false},"excerpt":{"rendered":"
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