Adjusted earnings per share came in at $2.70, easily ahead of the consensus for a profit of $2.09 per share. Revenue for the quarter reached $13.51 billion, significantly exceeding the Refinitiv estimate of $11.22 billion.
“The world has something along the lines of about a trillion dollars worth of data centers installed, in the cloud, enterprise and otherwise,” Nvidia CEO Jensen Huang said on a call with analysts. “That trillion dollars of data centers is in the process of transitioning into accelerated computing and generative AI.”
Nvidia anticipates revenue for the fiscal third quarter to be around $16 billion, up or down 2%. Analysts were looking for just $12.61 billion. This guidance implies a 170% growth in sales for the current quarter compared to the same period in the previous year.
Nvidia's impressive revenue growth in the second quarter, doubling from the previous year and increasing 88% from the prior quarter, underscores its massive role in the ongoing AI transition.
Nvidia stock is up 229% year-to-date.