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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’s fortunes.
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—crushing analyst estimates of $92.2 billion.
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.
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.
“AI has reached its inflection point. It’s doing useful work. Its tokens are productive and profitable. Now, compute is revenue,” said Read Entire Article
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