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5h ago

Nvidia Tops Q2 Targets, Lifts Outlook to $54 Billion as Shares Dip After Hours

Investors now look to guidance on hyperscaler capex, China revenue mechanics, plus timing for Rubin.

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Image
A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
Photo: GMB Media

Overview

  • Nvidia posted $46.7 billion in fiscal Q2 revenue and $1.05 in adjusted EPS, edging past forecasts and setting a new sales record.
  • Data center revenue rose 56% year over year to roughly $41.1 billion, slightly below consensus expectations for the segment.
  • The company guided fiscal Q3 revenue to $54 billion plus or minus 2%, citing robust demand from cloud providers building generative AI infrastructure.
  • Shares fell about 2% to 4% in after-hours trading following the release, with options pricing pointing to an expected move of roughly 6% this week.
  • Nvidia approved an additional $60 billion for share repurchases and disclosed no H20 sales to China in the quarter under U.S. export restrictions.