Nvidia Crushes Earnings Estimates with Monster Quarter, Sending Stock Soaring
Nvidia's latest quarter was a monster, with revenue soaring 106% from last year to $96.221 billion. The company's net income hit $60 billion and its gross margin stood near 75%. This impressive performance sent Nvidia's stock jumping nearly 9%, adding about $440 billion to its market value.
The bigger surprise came on the earnings call, when CFO Colette Kress forecasted 70% revenue growth for fiscal 2028, well above Wall Street's 44% estimate. CEO Jensen Huang attributed this outlook to supply constraints, stating that 'our demand is much greater than 70%, but our supply allows us to confidently deliver 70%.'
Several notable figures praised Nvidia's results. Elon Musk tweeted that the company's revenue was 'insane', while Pro Capital CEO Anthony Pompliano said it was 'doing $1 billion in revenue PER DAY. Insane.'