Nvidia Posts $96.22B Revenue and $108B Outlook as AI Chip Spending Holds Up

Nvidia’s May-to-July revenue reached $96.22 billion, more than double the year-earlier figure and $3.95 billion above Wall Street’s average estimate. That is realized demand for high-end AI chips; Nvidia’s approximately $108 billion target for the following quarter is a larger number, but still guidance rather than booked sales.

A quarter that cleared two financial bars

The revenue result exceeded analysts’ $92.27 billion average forecast. Nvidia also reported adjusted earnings of $2.22 a share, above the $2.09 Wall Street consensus tracked by FactSet. The two measures matter differently: revenue records the scale of sales in the completed period, while adjusted earnings measure profit after excluding certain items.

Profit rose sharply alongside sales. Net income was $59.69 billion, or $2.46 a share, compared with $26.42 billion in the same quarter a year earlier. Nvidia attributed the latest performance to strong demand for its high-end artificial-intelligence chips.

The outlook is a different kind of claim

For August through October, Nvidia forecast about $108 billion in revenue. That is $3.14 billion above analysts’ $104.86 billion expectation, placing the company’s own outlook above a consensus that had already anticipated another enormous quarter.

If Nvidia reaches that target, revenue would rise roughly 89% from the corresponding quarter a year earlier. But the distinction between the two periods is central: May-to-July revenue has been recorded, while the August-to-October figure depends on future sales meeting Nvidia’s forecast.

Growth arrived with higher spending and a cooler initial reaction

Nvidia’s operating expenses rose 55% to $8.41 billion in the reported quarter. The expense increase is a counterweight to the headline revenue and profit growth: sales and net income rose, but the company was also spending substantially more to operate the business.

Shares fell 1.8% in after-hours trading shortly after the release. That immediate move came after a quarter that beat both revenue and adjusted-earnings expectations, and after guidance that exceeded the analyst revenue forecast; it does not alter the completed results or establish a reason for the market reaction.

A recurring beat now faces a higher bar

Nvidia has regularly surpassed analysts’ expectations over the past three years as its high-end chips became important building blocks for AI systems. The latest quarter extends that pattern. The next report will answer the narrower question raised by this one: whether the company can turn its $108 billion outlook into recorded revenue and sustain the growth rate implied by the target.