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The artificial intelligence boom has propelled chipmaker Nvidia NVDA to record-breaking highs — and analysts are expecting its revenue to more than double when it reports second-quarter results this week.
Nvidia NVDA is expected to report revenue of $28.7 billion for the quarter ending on July 30 — more than double its revenue of $13.5 billion a year ago, according to analysts’ estimates compiled by FactSet. The chipmaker will report second-quarter earnings for fiscal 2025 on August 28.
Analysts are also expecting net income of $15.02 billion, and earnings per share of $0.65. The company’s shares have jumped over 160% so far this year, but were down around 2.3% during midday trading on Monday. After its first-quarter earnings report, earlier this year, Nvidia initiated a 10-for-1 stock split.
In anticipation of the chipmaker’s earnings report, researchers at Wedbush led by Dan Ives called Nvidia “the foundation for the AI Revolution,” and said the firm is expecting another “drop the mic performance” from the company in a note last week.
“We believe the most important week for the stock market this year and potentially in years for the Street will be next week as the Godfather of AI Jensen and Nvidia NVDA have earnings on deck,” Ives wrote, referring to Nvidia chief executive Jensen Huang.
Nvidia and other AI firms’ hard and fast rise has led some investors to fear an AI bubble, but Ives said it’s more likely “a 1995 (almost 1996) start of the Internet Moment and not a 1999 Tech Bubble-like moment.”
Earlier this month, Nvidia’s shares fell, dragging down the Nasdaq, after a report that its latest Blackwell AI platform is delayed due to design flaws, possibly pushing deliveries back by at least three months. During Nvidia’s first-quarter earnings call, Huang said Blackwell would start shipping in the second quarter, ramp up in the third quarter, and be with customers in the fourth quarter. He added that the chipmaker would see revenue from Blackwell this year.
The chipmaker beat Wall Street’s expectations in its first-quarter earnings, reporting revenue of $26 billion — a 262% increase from the previous year. Huang announced that Nvidia already has another chip coming after Blackwell, and added that it is “on a one-year rhythm,” for developing new chips.