Nvidia Targets 70% FY28 Revenue Growth as Wall Street Still Models 63%
Updated
Updated · Yahoo Finance · Sep 2
Nvidia Targets 70% FY28 Revenue Growth as Wall Street Still Models 63%
3 articles · Updated · Yahoo Finance · Sep 2
Summary
Nvidia used its post-earnings outlook to set a 70% fiscal 2028 revenue growth target, far above the 45% analysts had expected and aimed at countering fears that AI demand was peaking.
JPMorgan said executives offered the rare long-term forecast because internal projections were materially above Street estimates, a gap Nvidia feared could distort partners' supply-chain planning.
Q2 results backed that stance: adjusted EPS reached $2.22 on $96.2 billion in revenue, topping forecasts of $2.09 and $92.3 billion, while data center sales hit $89 billion versus $85.8 billion expected.
Third-quarter revenue guidance of $105.8 billion to $110.1 billion also beat the $105.1 billion consensus and would put Nvidia above $100 billion in quarterly sales for the first time.
Jensen Huang said fiscal 2028 growth could have exceeded 100% without memory shortages, yet analysts still average 63% growth for that year, below Nvidia's own target.
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