Nvidia earnings takeaways: Huang forecasts 70% fiscal 2028 revenue growth, far above estimates - CNBC

Nvidia posted fiscal second-quarter results that beat Wall Street expectations, reporting adjusted earnings of $2.22 per share on revenue of $96.22 billion, versus analyst estimates of $2.10 and $92.17 billion, according to LSEG.
CFO Colette Kress told analysts the company expects fiscal 2028 revenue growth of 70%, far above the 44% analysts had forecast, noting that customer projections point to growth doubling, though guidance was tempered by supply constraints.
Revenue more than doubled from $46.7 billion a year earlier, while net income surged to $53.95 billion, or $2.22 per share, up from $24.76 billion, or $1.87 per share, in the same period last year.
The stock rose 4% following the forecast, but Nvidia shares were up just 13% for the year as of Wednesday's close, reflecting cooler investor sentiment after a three-year rally, with looming competition from Advanced Micro Devices, Google and others.
Nvidia's quarterly filing newly identified indebtedness as a standalone risk factor, warning that rising obligations could adversely affect its financial condition; as of July 26 it had $33.5 billion in senior notes outstanding and a $25 billion commercial paper program, with $15 billion of debt due within one to five years.
The company continues to sit at the center of the AI boom nearly four years after ChatGPT's launch, increasingly providing financial backstops to help fund new AI data centers, while facing soaring memory costs amid a persistent global shortage.