Nvidia's quarterly revenue doubles to $96 billion, beating estimates as AI demand accelerates

Nvidia reported fiscal second-quarter revenue of $96.2 billion, more than doubling year-over-year and crushing analyst estimates of $92.2 billion, while forecasting current-quarter sales above expectations. CEO Jensen Huang said AI demand is accelerating. Revenue rose 18% from the prior quarter and 106% year-over-year for the three months ended July 26. Data center revenue hit $89 billion, beating estimates, with non-GAAP earnings of $2.22 per share exceeding forecasts. The company guided to $91 billion for the current quarter. Nvidia's stock was flat in after-hours trading following a 1.6% decline during the regular session. The company adopted a new breakdown separating hyperscale revenue from AI clouds and enterprise, and began including stock-based compensation in non-GAAP results.