Nvidia earnings takeaways: Huang forecasts 70% fiscal 2028 revenue growth, far above estimates
Nvidia shares rose after the company reported second-quarter fiscal 2027 results that exceeded consensus estimates. The company's profit doubled to $59.69 billion, driven by intense spending on artificial intelligence. Nvidia's CFO projected revenue growth of 70% for fiscal 2028, a forecast that surpasses analyst expectations and positions the firm to potentially become the second-largest tech company by revenue. While demand for AI chips continues to increase, some analysts suggest the results are limited by the company being sold out of inventory.
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- ✓ Nvidia's profit doubled to $59.69 billion due to AI spending.
- ✓ The company's CFO forecasts revenue growth of 70% for fiscal 2028.
- ✓ Nvidia's second-quarter fiscal 2027 results exceeded consensus estimates.
- ✓ Nvidia shares rose following the earnings announcement.
What changed
Nvidia released its second-quarter fiscal 2027 financial results and provided a 70% revenue growth forecast for fiscal 2028.
Live updates
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Nvidia forecasts 70% revenue growth for fiscal 2028 following Q2 blowout
Nvidia shares rose after the company reported second-quarter fiscal 2027 results that exceeded consensus estimates. The company's profit doubled to $59.69 billion, driven by intense spending on artificial intelligence. Nvidia's CFO projected revenue growth of 70% for fiscal 2028, a forecast that surpasses analyst expectations and positions the firm to potentially become the second-largest tech company by revenue. While demand for AI chips continues to increase, some analysts suggest the results are limited by the company being sold out of inventory.
Why it matters
Nvidia's performance serves as a primary barometer for the broader AI trade. The company's growth is heavily dependent on a small group of major customers and the financing structures supporting AI infrastructure.
What is confirmed
- Nvidia's profit doubled to $59.69 billion due to AI spending.
- The company's CFO forecasts revenue growth of 70% for fiscal 2028.
- Nvidia's second-quarter fiscal 2027 results exceeded consensus estimates.
- Nvidia shares rose following the earnings announcement.
Still unconfirmed
- Nvidia's value pushed back above $5.5 trillion.
What to watch next
- Updates on AI chip inventory levels and supply chain capacity
- Price target adjustments from Wall Street analysts
- Revenue reports from Nvidia's primary AI infrastructure customers
confidence 95%Sources used for this update (17)
- CNBC — Nvidia earnings live updates: Q2 results, memory prices and AI outlook
- NVIDIA Newsroom — NVIDIA Announces Financial Results for Second Quarter Fiscal 2027
- Yahoo Finance — Nvidia’s earnings to test resurgent AI trade
- CNBC — Stock futures rise as Nvidia shares jump 4% after earnings: Live updates
- The New York Times — Nvidia’s Profit Doubles to $59.69 Billion Thanks to A.I. Spending
- www.cnbc.com — Nvidia forecasts fiscal '28 revenue growth of 70%, soaring past estimates: Live updates
- CNN — Nvidia doubles its sales, but investors have their eye on the future
- CNBC — Nvidia’s 70% growth forecast puts it on track to become tech’s No. 2 company by revenue
- Bloomberg — Nvidia CFO Says Revenue to Grow 70% in 2028, Shares Rise
- Yahoo Finance — Nvidia's Record Results Aren't ‘Impressive Enough' Because It's Sold Out, Analyst Says
- WSJ — Nvidia Reports Blowout Quarter, Says Demand for AI Chips Is Getting Even Hotter
- Yahoo Finance — Michael Burry Shorts This AI Giant, Then Buys Calls as a Hedge: Why?
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