Nvidia reported its Q2 earnings on Wednesday, beating Wall Street’s expectations on the top and bottom lines and providing a better-than-expected outlook for the third quarter.
For Q2, Nvidia saw adjusted earnings per share (EPS) of $2.22 on revenue of $96.2 billion, which is better than the EPS of $2.09 and revenue of $92.3 billion that Wall Street was anticipating.
The company also says it is projecting Q3 revenue of between $105.8 billion and $110.1 billion. Wall Street was calling for $1.51 billion.
Nvidia stock rose more than 7% during premarket trading on Thursday after initially falling immediately following the announcement
“AI has reached its inflection point. It’s doing useful work. Its tokens are productive and profitable. Now, compute is revenue,” Nvidia CEO Jensen Huang said in a statement
“And demand is accelerating. This time last year, one lab alone was driving the build-out; today, we have a golden age of new AI labs and startups, multiple frontier labs scaling in parallel, a thriving open-model ecosystem, and physical AI coming online — with strong momentum across the U.S. and around the world. The AI infrastructure build-out is at full steam. Vera Rubin, now in full production, was built to power exactly this moment.”
