Nvidia guides 70% FY2028 revenue growth, above Wall Street's 45% estimate

September 2, 2026 at 05:22 PM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Nvidia guided for 70% revenue growth in fiscal 2028, far above the 45% analysts had modeled. The company said the long-term outlook was aimed at closing a gap with Wall Street estimates that could have disrupted supply-chain planning. The stock had been stuck in neutral for much of the summer as investors questioned peak AI growth.

Key Facts

Nvidia guided for 70% revenue growth in fiscal 2028, above the 45% analysts had modeled.
Nvidia reported adjusted EPS of $2.22 on revenue of $96.2 billion for fiscal Q2, beating estimates of $2.09 and $92.3 billion.
Nvidia projected fiscal Q3 revenue between $105.8 billion and $110.1 billion, above the $105.1 billion Wall Street expected.
Data Center revenue reached $89 billion versus a projected $85.8 billion, while Edge Computing brought in $7.2 billion versus $6.6 billion expected.
CEO Jensen Huang said revenue growth would exceed 100% if not for memory chip shortages.

Long-Term Guidance

Nvidia said after reporting fiscal second quarter earnings that it sees 70% revenue growth for fiscal year 2028. This was above analyst forecasts for 45% growth. The sales gain would be larger — think in excess of 100% — if not for memory chip shortages, said Nvidia CEO Jensen Huang. JPMorgan analyst Harlan Sur wrote that the company's decision to provide an out-year outlook was motivated by a meaningful gap between Street estimates and what Nvidia was seeing internally. Sur added that the FY28 growth outlook is supported by broad-based improvements in demand and visibility, and that Nvidia appears comfortable with the 70% year-over-year growth framework.

Quarterly Results

Nvidia saw adjusted earnings per share of $2.22 on revenue of $96.2 billion for the fiscal second quarter. These were better than the $2.09 per share the Street had expected and revenue of $92.3 billion. Nvidia's Data Center revenue, which includes Hyperscalers and AI Clouds, Industrial, and Enterprise, came in at $89 billion versus a projected $85.8 billion. Edge Computing, which includes Nvidia's other businesses such as physical AI and gaming, brought in $7.2 billion, above the $6.6 billion analysts expected. Nvidia projected fiscal third quarter revenue of between $105.8 billion and $110.1 billion, while Wall Street was calling for $105.1 billion.

Market Reaction

Nvidia's stock had been stuck in neutral for the better part of the summer prior to earnings as investors fretted about peak artificial intelligence growth. The company decided to take one swift measure to silence the naysayers by serving up a rare long-term outlook that blew everyone on the Street away. Yahoo Finance analyst estimates show the Street modeling 63% year-over-year revenue growth for Nvidia in fiscal year 2028 on average, below the 70% target it just guided to. Stifel analyst Ruben Roy said the fiscal third quarter would be the first quarter above $100 billion in revenue for Nvidia. Laffer Tengler Investments CEO Nancy Tengler said on Yahoo Finance's Opening Bid that she did not know what to find wrong with the report.