NVIDIA reported fiscal second-quarter revenue of $96.2 billion, topping Wall Street’s $91.9 billion consensus by $4.3 billion as demand for artificial-intelligence accelerators remained robust. Adjusted earnings per share reached $2.22, exceeding the $2.08 forecast by 6.73%. The chipmaker’s market capitalization rose to $5.08 trillion.
Data center revenue, which accounts for 92.7% of total sales, climbed 18% quarter-on-quarter to $89 billion. Within that segment, hyperscale revenue increased 13% to $49 billion, while the ACIE business—covering sovereign AI, regional cloud providers, and enterprise customers—grew 25% quarter-on-quarter and 138% year-on-year to $40 billion. Gross margin was maintained at 75%, and return on equity reached 114%. Operating expenses rose 10% on a GAAP basis and 11% on a non-GAAP basis versus the prior quarter.
NVIDIA guided third-quarter revenue to $108 billion, with a 2% range implying a band of roughly $106 billion to $110 billion. Gross margin is expected to be 74%, plus or minus 50 basis points. Operating expenses are projected at $9.2 billion on a GAAP basis and $9.0 billion on a non-GAAP basis. The company also highlighted the early shipments of its Vera Rubin platform, which is anticipated to contribute about 20% of data center revenue in the current quarter.
For fiscal 2028, NVIDIA forecast revenue growth of around 70%, with CPU revenue expected to more than double. Inventory rose to $32 billion, partly due to preparations for the Vera Rubin launch. Shareholder returns totaled $26 billion, comprising $20 billion in buybacks and $6 billion in dividends.
In after-hours trading, NVIDIA shares rose 3.98% to $218, extending gains from the regular session close of $209.66. The stock has traded between $164.07 and $236.54 over the past 52 weeks.
