Nvidia's Earnings Beat Expectations, Boosting Stock Price
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Post-earnings slump no more What has driven the market to its winning week is the reaction to Nvidia 's earnings report. On Wednesday after the bell, the chipmaker's second-quarter results beat on the top and bottom lines, with its revenue more than doubling from a year ago. The company also forecast revenue growth of 70% in fiscal 2028, well above the 44% analysts had expected. The next day, the stock finished nearly 9% higher, snapping its streak of post-earnings declines over the previous four reports.
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Nvidia NVDA expects to grow revenue by more than 70% in the fiscal year that ends in January 2028. Now, a key question for Wall Street is whether that forecast is “simply a function” of SpaceX’s SPCX plan to use only Nvidia’s data-center chips, Mizuho analyst Daniel O’Regan said in a note to clients.
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New York Post BusinessNvidia expects revenue to grow by about 70% in fiscal 2028. VCG via Getty Images
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The revenue figures beat Wall Street's expectations, leading Nvidia shares to rise about 4% in after hours trading.
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New York Post BusinessShares of the company reversed course in after-hours trading to jump more than 4%, as investors cheered Nvidia’s road map for growth.
MarketWatchShares in the world’s biggest company NVDA climbed more than 7% in premarket trading after posting financial earnings after the closing bell Wednesday.
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Results from Nvidia, one of the world’s most valuable firms, are considered a bellwether for the AI market as its chips power most of the major data centers and advanced AI models globally.
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BBC BusinessEssentially every notable tech company building AI tools and infrastructure, including Amazon, Meta, Google, Microsoft, use Nvidia chips to do so.
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01 Epoch Times Business Wall Street closed a volatile week mixed, caught between two competing forces: strong earnings reports led by Nvidia that reignited AI investor sentiment, and a hawkish Jackson Hole speech from Federal Reserve Chair Kevin Warsh that reminded investors inflation remains elevated.
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02 CNBC Between the latest reading of the personal consumption expenditures price index and Federal Reserve Chairman Kevin Warsh's first keynote speech at Jackson Hole , one thing is clear: the battle against inflation is not over yet. While stocks posted a winning week, they came under pressure Friday after Warsh expressed some concern about the direction inflation is headed, saying in his speech, "While this summer's PCE and CPI readings were better than expected, they do not tell me that underlying trends have meaningfully improved." His comments come after sticky inflation weighed on sentiment this week, with the PCE price index – a metric closely monitored by the Fed – rising a bit more than expected in July.
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03 MarketWatch Tech Stocks Nvidia’s revenue forecast is so huge that Wall Street wonders if SpaceX is the reason
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04 New York Post Business Nvidia’s quarterly revenue more than doubled and the chipmaker forecast third-quarter revenue above Wall Street estimates on Wednesday, signaling persistent demand for its AI chips.
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05 BBC Business Published Chipmaker Nvidia has reported another huge jump in sales as the global push to build artificial intelligence (AI) systems continues at a rapid pace.
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