Nvidia Posts Record $96.2 Billion Q2 Revenue With 106% Growth and Forecasts $108 Billion in Q3

Nvidia reported record fiscal second-quarter 2027 revenue of $96.2 billion, up 106% year over year and above analyst estimates of $92.2 billion, as insatiable demand for AI infrastructure chips drove another blowout quarter. Adjusted earnings per share of $2.22 topped the $2.10 consensus estimate, a 120% year-over-year gain. The data center segment, Nvidia's largest, generated $89 billion in revenue, up 117% from a year ago and ahead of the $85.8 billion analysts had projected.

For the third quarter, the company guided for $108 billion in revenue. Management also issued a preliminary fiscal 2028 growth outlook of approximately 70%, though it noted that figure is constrained by supply rather than demand. Nvidia said it began production shipments of its Vera Rubin platform in August and expects the product to represent about 20% of data center revenue in Q3, calling it the fastest product ramp in company history.

AWS announced plans to deploy an additional 2 million Nvidia GPUs. Despite the strong print, Nvidia shares fell roughly 1.3% in after-hours trading, as investors weighed guidance that assumes no data center compute revenue from China. Some analysts cautioned that current earnings multiples, while reducing downside risk, may not be sufficient to drive above-market returns given how much growth is already priced into the stock.