NVIDIA Q2 2025 Earnings Report
Key Takeaways
NVIDIA reported record revenue of $30.0 billion for Q2 2025, a 122% increase year-over-year, driven by strong growth in the Data Center segment. GAAP EPS was $0.67, up 168% year-over-year, and non-GAAP EPS was $0.68, up 152% year-over-year.
Record quarterly revenue of $30.0 billion, up 122% from a year ago.
Record quarterly Data Center revenue of $26.3 billion, up 154% from a year ago.
GAAP earnings per diluted share was $0.67, up 168% from a year ago.
Non-GAAP earnings per diluted share was $0.68, up 152% from a year ago.
NVIDIA
NVIDIA
NVIDIA Revenue by Segment
Forward Guidance
NVIDIA's outlook for the third quarter of fiscal 2025 includes revenue of $32.5 billion, plus or minus 2%, and GAAP gross margin of 74.4%, plus or minus 50 basis points.
Positive Outlook
- Revenue is expected to be $32.5 billion, plus or minus 2%.
- GAAP gross margins are expected to be 74.4%, plus or minus 50 basis points.
- Non-GAAP gross margins are expected to be 75.0%, plus or minus 50 basis points.
- GAAP other income and expense are expected to be an income of approximately $350 million.
- Non-GAAP tax rates are expected to be 17%, plus or minus 1%.
Challenges Ahead
- GAAP and non-GAAP operating expenses are expected to be approximately $4.3 billion and $3.0 billion, respectively.
- Full-year operating expenses are expected to grow in the mid- to upper-40% range.
- GAAP and non-GAAP tax rates are expected to be 17%, plus or minus 1%, excluding any discrete items.
- Global economic conditions
- Reliance on third parties to manufacture products
Revenue & Expenses
Visualization of income flow from segment revenue to net income