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Nvidia beats Q2 expectations and lifts Q3 revenue outlook
Nvidia projected third-quarter revenue of $105.8 billion to $110.1 billion and reported Q2 Data Center revenue of $89.0 billion.
Nvidia reported second-quarter results that topped Wall Street expectations, with adjusted earnings per share of $2.22 on revenue of $96.2 billion. Wall Street had expected EPS of $2.09 and revenue of $92.3 billion, and the company also forecast stronger momentum into the third quarter.
For Q3, Nvidia expects revenue in the range of $105.8 billion to $110.1 billion. In premarket trading on Thursday, Nvidia stock was up more than 7% after the release.
Nvidia said its Data Center business, which includes Hyperscalers and AI Clouds as well as Industrial and Enterprise (ACIE), generated $89.0 billion in Q2 versus a projected $85.8 billion. The company also reported ACIE revenue increased 138% and that edge computing delivered $7.2 billion, compared with analyst expectations of $6.6 billion.
In its commentary, Nvidia CEO Jensen Huang said AI has reached an inflection point and that demand is accelerating, while CFO Colette Kress noted hyperscale revenue more than doubled in Q2. The company’s outlook comes as chip stocks have faced pressure over the past three months amid concerns about whether companies will see returns on large AI investments, with other big tech names cited as helping sentiment earlier.