Nvidia doubles Q2 revenue to $96 billion and crushes estimates, as CEO Jensen Huang says demand is accelerating

Nvidia just put up another monster quarter. Revenue for the three months ended July 26 hit $96.2 billion, up 18% from the prior quarter and 106% from a year earlier. Profit doubled too. Wall Street had expected $92.2 billion, so this was not a polite beat; it was a clean miss on the skeptics’ side.

The real story is still the data center business, which brought in $89 billion. Analysts were looking for $85.7 billion. That segment was $75.2 billion last quarter and $39.1 billion a year ago, which shows how quickly Nvidia’s AI engine keeps compounding. The company also split that business into hyperscale revenue at $48.7 billion and AI clouds, industrial, and enterprise at $40.3 billion, a new way of drawing the map around its biggest customers.

Then there’s the forecast. Nvidia said current-quarter revenue should be $91 billion, plus or minus 2%. That sits well below the average analyst estimate of $103.9 billion, even after this enormous quarter. The guidance did not exactly cool the story, but it did give investors something to chew on.

Jensen Huang framed it in classic Nvidia terms: AI has hit its inflection point, useful work is getting done, and compute is now revenue. The company also reported non-GAAP earnings of $2.22 a share, topping the $2.06 to $2.09 range analysts expected. One wrinkle: Nvidia now includes stock-based compensation in its non-GAAP results, which makes comparisons with older years less tidy than the headline numbers suggest. Still, the market got the message. Demand is not fading. It is accelerating.