Nvidia stock dips 1% despite record earnings and raised outlook

Nvidia shares fell over 1% in after-hours trading despite reporting record quarterly results and raising its forecast. The company posted $96.2 billion in revenue for fiscal Q2 2027, up 106% year-over-year, with net income more than doubling to $53.95 billion. Revenue and earnings both beat analyst estimates, driven by data center sales which surged 117% annually to $89 billion. Nvidia guided Q3 revenue to $108 billion, excluding China compute sales, with gross margins expected at 74%. CEO Jensen Huang said AI has reached an inflection point where "compute is revenue." The company said its Vera Rubin platform is now in full production ramp with customers including CoreWeave, Google Cloud, Microsoft Azure, Oracle Cloud, and Nebius. Nvidia also highlighted deployments of its Spectrum-6 networking platform and Vera CPU, positioning itself as a complete AI factory infrastructure provider rather than just a GPU seller.