Nvidia forecasts fiscal '28 revenue growth of 70%, soaring past estimates: Live updates
Nvidia stock rose between 4% and 6% after reporting Q2 revenue of $96.2 billion and profits of $59.69 billion. CFO Colette Kress projected 70% revenue growth for fiscal 2028, a figure that surpassed Wall Street expectations. Data center sales drove much of this momentum with a 117% year-over-year increase. Despite the record gains, management warned that memory margins are declining and the situation will worsen before it improves. The company also identified a $40 billion revenue opportunity linked to its agentic AI Vera CPUs.
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- ✓ Nvidia CFO Colette Kress forecasts 70% revenue growth for fiscal 2028.
- ✓ Nvidia reported Q2 revenue of $96.2 billion.
- ✓ Data center sales increased 117% year-over-year.
- ✓ Nvidia profits reached $59.69 billion.
What changed
Updated reports specify Q2 revenue at $96.2 billion, data center growth at 117%, and a $40 billion opportunity for Vera CPUs.
Live updates
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Nvidia shares jump on 70% growth forecast and record Q2 earnings
Nvidia stock rose between 4% and 6% after reporting Q2 revenue of $96.2 billion and profits of $59.69 billion. CFO Colette Kress projected 70% revenue growth for fiscal 2028, a figure that surpassed Wall Street expectations. Data center sales drove much of this momentum with a 117% year-over-year increase. Despite the record gains, management warned that memory margins are declining and the situation will worsen before it improves. The company also identified a $40 billion revenue opportunity linked to its agentic AI Vera CPUs.
Why it matters
The surge reflects massive corporate spending on AI infrastructure. Nvidia is now positioned to potentially become the second-largest technology company by revenue. Investors remain divided on whether this growth rate is sustainable long-term.
What is confirmed
- Nvidia CFO Colette Kress forecasts 70% revenue growth for fiscal 2028.
- Nvidia reported Q2 revenue of $96.2 billion.
- Data center sales increased 117% year-over-year.
- Nvidia profits reached $59.69 billion.
Still unconfirmed
- Memory margins are declining and will get worse before they improve.
- Agentic AI Vera CPUs represent a $40 billion revenue opportunity.
What to watch next
- Future reports on memory margin recovery
- Actual revenue realization from Vera CPUs
confidence 95%Sources used for this update (4)
- ca.finance.yahoo.com — Nucor Corporation NUE Stock Forecast & Price Target
- 247wallst.com — NVIDIA Surges 6% as a 70% Growth Forecast Overrides a Memory Margin Warning, AMD and Intel Tick Up
- finance.yahoo.com — Nvidia CFO predicts 70% revenue jump for fiscal 2028
- blockonomi.com — Nvidia (NVDA) Stock Surges on Record Earnings and Bold 2028 Revenue Projection
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Nvidia forecasts 70% revenue growth for fiscal 2028 as profits double
Nvidia shares rose 4% after the company reported that profits doubled to $59.69 billion, driven by AI spending. The chipmaker's quarterly revenue more than doubled, and its CFO forecasts revenue growth of 70% for fiscal 2028. This projection exceeds Wall Street estimates and positions Nvidia to potentially become the second-largest technology company by revenue. While current financial performance is strong, investors are focused on the sustainability of the AI trade and the company's future valuation.
Why it matters
Nvidia is the primary supplier of hardware for artificial intelligence. This growth forecast tests whether the current AI investment cycle can maintain its momentum. The company's valuation has recently hit lows not seen since 2019 despite the surge in profits.
What is confirmed
- Nvidia's profit doubled to $59.69 billion due to AI spending.
- The company forecasts revenue growth of 70% for fiscal 2028.
- Nvidia's quarterly revenue more than doubled.
- Nvidia shares jumped 4% following the earnings report.
Still unconfirmed
- Nvidia is on track to become the second-largest tech company by revenue.
- Nvidia's valuation hit lows not seen since 2019.
What to watch next
- Third-quarter revenue results to verify if they exceed Wall Street estimates
- Further data on data center demand and memory prices
confidence 90%Sources used for this update (12)
- economictimes.indiatimes.com — Reliance Jio Q4 results
- 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
- Yahoo Finance — Nvidia's Valuation Just Hit Lows Not Seen Since 2019, Even as Its Profits Doubled
- 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
- nypost.com — Nvidia forecasts quarterly revenue above estimates, shares rise
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