Nvidia (NVDA) stock jumped 7.63% in after-hours trading following a blockbuster Q2 earnings report
Revenue hit $96.2 billion, up 18% quarter-over-quarter and 106% year-over-year, beating the $92.2 billion analyst estimate
Nvidia projects fiscal 2028 revenue growth of 70%, far above the 44% growth Wall Street analysts had modeled
One analyst’s reaction says it all: ‘I think the whole market was like, Whoa, 70%.’ That was the response after Nvidia reported it had doubled both revenue and profit year-over-year in the quarter ended July 26, with revenue hitting $96.2 billion — up 18% from the prior quarter and 106% from a year earlier, crushing the $92.2 billion Wall Street had penciled in. The stock jumped 7.63% overnight in after-hours trading on the back of red-hot demand for the company’s AI chips, according to Fortune’s reporting on the earnings call.
AI Chip Demand Keeps Crushing Estimates
In an unusual move, Nvidia issued a multi-year outlook, forecasting fiscal 2028 revenue growth of 70% over the prior year — a figure well above the 44% growth analysts had projected, though the company did not attach a specific dollar target to that estimate, making it a projection rather than a confirmed figure. Melissa Otto, global head of Visible Alpha research at S&P Global, flagged the scale of the beat as a market-moving surprise. The results land against a backdrop of mixed Asian and European trading, with U.S. tech futures rising while Japan’s Nikkei 225 and India’s Nifty 50 both traded lower.
What This Means for Your Portfolio and Wallet
Nvidia’s weight in major indices means a 7.63% pop moves the needle for anyone holding S&P 500 index funds or broad tech ETFs, not just direct shareholders. The 70% forward growth guidance, if it holds up, reinforces the AI infrastructure trade that has powered this year’s tech rally, but it also raises the bar — any stumble against that guidance in future quarters could trigger outsized swings given how concentrated index gains have become in a handful of AI-linked names.
Strategic Positioning & Defense Ideas
With so much index performance tied to a small group of AI winners, diversifying beyond mega-cap tech, rebalancing periodically, and keeping some cash on hand for volatility remain sensible educational safeguards. Disclaimer: This analysis is for educational and informational purposes only and should not be construed as financial or investment advice.
What to Watch Next
Watch upcoming quarters for whether Nvidia’s fiscal 2028 growth guidance holds, along with broader AI capex trends across cloud providers. Full details are available via Fortune’s original reporting.
