Nvidia on Track to Shatter Corporate Profit Records with $851 Billion Net Income Projection

Nvidia's projected net income for fiscal year 2029 could reach an astonishing $851 billion, eclipsing Saudi Aramco's record of $161.1 billion in annual profit set in 2022.

This staggering figure is based on a compounded earnings growth rate of 64% applied to Nvidia's trailing-12-month net income and diluted EPS, which translates to roughly $316 billion in net income for fiscal year 2027 and $519 billion for fiscal year 2028.

The company's most recent quarter, Q2 FY2027, reported revenue of $96.22 billion, up 105.85% year over year, with net income of $59.688 billion, a 125.9% increase from the same period last year.

Nvidia's CEO Jensen Huang attributed the company's extraordinary growth to an insatiable demand for its products, driven by the cloud industry backlog exceeding $2 trillion and top-five hyperscaler capital expenditures projected at nearly $800 billion in 2026 and $1.3 trillion in 2027.