Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Nvidia reports $30 billion in revenue for Q2

Nvidia reports $30 billion in revenue for Q2

GrafaGrafa2024/08/29 02:40
By:Liezl Gambe

Nvidia's Q2 earnings call on August 28 delivered strong results, with CFO Colette Kress announcing a revenue of $30 billion, surpassing previous estimates by $2 billion.

The earnings beat represents a seven percent increase over the company's forecast, continuing Nvidia's trend of record-breaking quarters.

Investors and analysts had been closely watching this earnings call, treating it as a crucial indicator for the artificial intelligence (AI) industry's direction.

The positive earnings report has alleviated concerns about a potential downturn in the AI sector, sparking optimism across social media and financial markets.

Nvidia's projections for the third quarter are also bullish, with expected revenues of $32.4 billion, further boosting investor confidence.

Kress attributed the impressive growth to strong GPU sales, the upcoming release of the Blackwell chips, and robust performance in both domestic and international data services, with notable gains in the Chinese market.

The Blackwell platform, which includes new hardware and software, is slated for production starting in Q4 2024 and continuing into 2026, with demand already outstripping supply.

Kress highlighted that the high demand for Nvidia's products is expected to persist into the next year, signaling continued growth potential.

The strong Q2 results have solidified Nvidia's position as the leader in the AI sector, providing a positive signal for the broader industry.

Many analysts viewed the August 28 earnings call as a critical litmus test for the AI sector's trajectory, and Nvidia’s performance suggests that the industry remains on a strong upward path.

Nvidia's next earnings call is scheduled for November 20, where further developments in its AI ventures and market performance will be discussed.

1

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

From "whoever pays gets it" to "only the right people get it": The next generation of Launchpads needs a reshuffle

The next-generation Launchpad may help address the issue of community activation in the cryptocurrency sector, a problem that airdrops have consistently failed to solve.

Block unicorn2025/11/28 10:23
From "whoever pays gets it" to "only the right people get it": The next generation of Launchpads needs a reshuffle

After bitcoin returns to $90,000, is Christmas or a Christmas crash coming next?

This Thanksgiving, we are grateful for bitcoin returning to $90,000.

BlockBeats2025/11/28 08:43
After bitcoin returns to $90,000, is Christmas or a Christmas crash coming next?

Bitcoin security reaches a historic high, but miner revenue drops to a historic low. Where will mining companies find new sources of income?

The current paradox of the Bitcoin network is particularly striking: while the protocol layer has never been more secure due to high hash power, the underlying mining industry is facing pressure from capital liquidation and consolidation.

区块链骑士2025/11/28 08:23
Bitcoin security reaches a historic high, but miner revenue drops to a historic low. Where will mining companies find new sources of income?