NVIDIA's Q2 revenue of $96.22 billion exceeded expectations, with Q3 guidance reaching $108 billion

NVIDIA's revenue for the second quarter of fiscal year 2027 increased by more than double year-on-year to $96.22 billion, exceeding market expectations of $92.17 billion; adjusted earnings per share were $2.22, surpassing the expected $2.10. Data center revenue grew more than double to $89 billion, higher than the expected $85.08 billion. The company expects third-quarter revenue of $108 billion (with a fluctuation of 2%), above analysts' expectations of $104.19 billion; the adjusted gross margin is expected to be 74% (with a fluctuation of 0.5 percentage points), lower than the market expectation of 74.77%.

NVIDIA expects revenue to grow by about 70% in fiscal year 2028 and to expand its collaboration with AWS, with both parties planning to deploy an additional 2 million NVIDIA GPUs in Amazon's global infrastructure in 2027 and 2028. The company stated that revenue opportunities for AI chips could exceed $1 trillion before 2027. The third-quarter guidance does not include any sales from data center chips in China.

After the earnings report was released, NVIDIA's stock price rose over 4% in after-hours trading. As of Wednesday's close, the market capitalization was approximately $5.16 trillion, with the stock price having increased by 12.4% year-to-date.