- Nvidia Corp.
- 27 August 2026 08:17:03
Source: Sharecast
Amid increasing market concerns about a slowdown in the AI boom, chief executive and founder Jensen Huang said demand was still picking up and the AI infrastructure buildout was at "full steam".
Revenues over the three months to 26 July totalled $96.2bn, up 18% from the previous quarter and up 106% from a year ago. The consensus forecast was closer to $92bn.
Gross margins increased to 75.0% in the second quarter, up from 74.9% in the first quarter and 72.4% a year before.
That helped drive net income up 126% year-on-year to $59.7bn, with earnings per share rising 128% at $2.46.
“AI has reached its inflection point. It’s doing useful work. Its tokens are productive and profitable. Now, compute is revenue,” Huang said.
“And demand is accelerating. This time last year, one lab alone was driving the buildout; today, we have a golden age of new AI labs and startups, multiple frontier labs scaling in parallel, a thriving open-model ecosystem and physical AI coming online — with strong momentum across the US and around the world."
Huang added: "The AI infrastructure buildout is at full steam. Vera Rubin [the company's infrastructure for agentic AI], now in full production, was built to power exactly this moment."
Looking ahead, third-quarter revenues are expected to rise to $108.0bn, plus or minus 2%, above analysts' estimates.
On a call with analysts after the results announcement, chief financial officer Colette Kress said the firm expects revenues to rise a further 70% over FY28, well ahead of the 45% growth expected by the market.
Results were announced after the closing bell on Wednesday, which saw Nvidia's stock jump 4.7% after hours to $219.53.