Nvidia reported second quarter revenue of $96.2 billion, a 106% increase from a year earlier, driven by a $89 billion contribution from its data center business. The chipmaker projected revenue of $108 billion for the third quarter, surpassing the $104 billion estimate, while excluding data center compute revenue from China. GAAP net income reached $59.7 billion, up 126% year over year.
Chief Financial Officer Colette Kress said revenue should grow approximately 70% in fiscal 2028, though supply constraints limit growth that customer forecasts suggest could double. Nvidia increased its future supply and capacity commitments to $279 billion from $119 billion in the previous quarter to address memory procurement. Shares rose more than 4% in extended trading as the company rebutted criticism of its customer financing arrangements.
Key sources
- SOURCE@reuters“shares rose nearly 5% in extended trading after they initially dipped over 1%”x.com
- SUPPORT@techmeme“forecasts Q3 revenue of $108B, above a $104B estimate”x.com
- SUPPORT@kimmonismus“GAAP net income: $59.7B, +126% YoY”x.com
- SUPPORT@wublockchain“future supply and capacity commitments increased from $119 billion in the previous quarter to $279 billion”x.com
- SUPPORT@firstsquawk“NASDAQ 100 futures rising 1.2% and S&P 500 futures gaining 0.6%”x.com
- SUPPORT@staunovo“financing deals with customers are ‘excellent’ investments with ‘limited’ risk”x.com
- SOURCE@tradfi“EXPECT MARGINS TO BOTTOM IN Q4 IN 71-72% RANGE”x.com
- SOURCE@thetranscript_“The magnitude of the price increase has exceeded our prior expectations and is headed even higher into next year.”x.com