Nvidia (NVDA) reported better-than-expected results for the second quarter of fiscal 2027 after the U.S. stock market close on Wednesday, but the initial release did not fully satisfy investors with elevated expectations, and the stock at one point fell 3% in after-hours trading. The tone shifted during the analyst call, when Chief Financial Officer Colette Kress said the company expects revenue in fiscal 2028 to grow by about 70%, well above the 44% growth analysts had been projecting.
Kress said demand is still accelerating despite Nvidia’s current scale, adding that customer forecasts point to growth doubling next year. She also said the company’s roughly 70% outlook reflects supply constraints. Chief Executive Officer Jensen Huang said Nvidia has never before provided guidance a full year in advance and argued that actual demand growth has already exceeded 70%. He added that demand is approaching 100%, but the company’s fiscal 2028 outlook is based on its current supply capacity. Without those supply limits, Huang said, Nvidia’s outlook for fiscal 2028 would be much higher. Nvidia shares later swung higher and were at one point up 5% in after-hours trading.
Nvidia (NVDA) reported better-than-expected results for the second quarter of fiscal 2027 after the U.S. stock market closed on Wednesday, but the release did not fully satisfy some investors who had gone in with high expectations. The stock was at one point down 3% in after-hours trading.
The company then offered a stronger signal on its analyst call. Chief Financial Officer Colette Kress said Nvidia expects revenue in fiscal 2028 to grow by about 70%, compared with the 44% growth analysts had previously expected.
Kress said, 「Incredible as it may seem, even at our current size, demand is still accelerating. Customer forecasts show growth will double next year. But, as I mentioned before, because supply is constrained, we expect growth of about 70%.」
Chief Executive Officer Jensen Huang said Nvidia has never before provided guidance a full year in advance, and that demand growth has in fact already exceeded 70%. He added that while demand growth is approaching 100%, the 70% figure is based on the company’s current supply capacity. Without supply constraints, Nvidia’s fiscal 2028 outlook would be 「much higher.」
Nvidia shares were later at one point up 5% in after-hours trading.
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