The world’s largest company, Nvidia ($5.16 trillion market cap), has just posted an unprecedented Q2 earnings report, including a historic $96.2 billion in revenue or 106% year-over-year growth, beating Wall Street estimates of $92.3 billion.
Nvidia earnings report highlights
In terms of earnings per share (EPS), Nvidia recorded adjusted earnings of $2.22 per share, once more superseding analysts’ expectations of $2.09.
Tech banter suggests these numbers were the largest posted by any company in history, making it arguably the biggest tech evolution of all time.
CEO Jensen Huang called this an “inflection point,” saying artificial intelligence (AI) has strong momentum in the US and beyond. He adds that serving this demand is the exact reason why it built its frontier AI supercomputer model, Vera Rubin.
Massive forward guidance
According to the company, the main growth catalysts were heightened demand for its data centers and graphics processing units (GPUs). Data center revenue soared by 117% to $89 billion, as Amazon Web Services (AWS) committed to purchasing 2 million next-generation GPUs, further reinforcing enterprise demand.
Despite investor concerns regarding cooled expenditures in AI, Nvidia projects a 70% revenue growth for the full-year fiscal 2028.
In the near-term, the firm projects $108 billion in revenue for Q3, a figure that would bring its 6-month revenue to a high of $204.2 billion.
NVDA stock performance
Following the news, Nvidia stock (NASDAQ: NVDA) fell by 4%. However, prices quickly recovered, surging 4.7% in the after-hours to trade at $219.53.
Source: MarketWatch
Compared to the previous four consecutive earnings reports, the latest one broke a pattern of increased share selloff despite strong numbers.
Nonetheless, the tech colossus noted that server production costs may rise in tandem with global memory chip prices. DRAM, specifically, is expected to surge 260% this year alone. This overhead crunch could test the company’s profitability moving forward.
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