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NVIDIA Q2 results beat estimates as revenue more than doubles
NVIDIA reported Q3 revenue guidance of $108 billion, plus or minus 2%, as the stock slipped 1.6% to $209.66 on Aug. 26 despite the strong quarter.
NVIDIA’s second-quarter results exceeded expectations, with revenue for the July quarter more than doubling to $96.2 billion and adjusted profit of $2.22 per share, according to LiveMint Markets. The outlet noted that NVIDIA’s revenue guidance for the next financial year also came in above estimates, though the market reaction at the close was negative.
On Nasdaq, the chipmaker’s stock declined 1.59% to $209.66 on Aug. 26, despite being up 11% year-to-date. NVIDIA also projected third-quarter revenue of $108 billion, with a range of plus or minus 2%.
LiveMint Markets said momentum is expected to stay strong, with NVIDIA targeting a 70% jump in revenue in 2028. The outlet also cited analysis that the AI spending boom remains intact, pointing to what it described as demand signals behind the results.
Even with the beat, LiveMint Markets highlighted that expectations are high and some experts see a need for consolidation. The outlet quoted its analyst as saying NVIDIA has fallen the day after its last four earnings reports despite beating estimates, suggesting the bar for further gains may be rising.
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