Overview

• Fiscal Q2 revenue reached $46.7 billion with adjusted EPS of $1.05, while data‑center sales of about $41.1 billion came in just below consensus.
• Nvidia forecast Q3 revenue of roughly $54 billion, plus or minus 2%, and the outlook does not include any H20 shipments to China.
• There were no H20 sales to China in the quarter; Nvidia recognized about $650 million of H20 sales to a customer outside China and a $180 million release of previously reserved H20 inventory.
• Blackwell shipments continued to ramp, with Blackwell data‑center revenue up 17% sequentially and large cloud providers accounting for roughly half of data‑center revenue.
• The board approved an additional $60 billion in buybacks as shares fell about 2%–3% after hours, even as analysts largely kept bullish ratings and targets.