Nvidia, the US giant of the graphic processors, closed a record quarter in terms of turnover, but the increasingly demanding market penalized the title in the evening session (After Hours), because it is disappointed by the numbers relating to the data centers. The Nvidia shares, which had closed the daytime session on equality, slipped by over 3% to $ 175.90.
The Big American recorded a turnover of 46.7 billion dollars for the second quarter (ended on July 27, 2025), growing by 6% compared to the previous quarter and 56% compared to the previous year. The data is higher than the expectations of analysts for 46.1 billion dollars, according to LSEG data. The turnover of the Nvidia Blackwell Data Center grew by 17% on a sequential basis.
China and Data Center
In the second quarter there were no H2O sales to customers based in China. Nvidia benefited from a release of 180 million dollars of H2O inventory previously reserved, against approximately 650 million dollars of H2O sales without restrictions on a customer outside China.
Among the items that made the nose turn up to investors, who sold in title in After Hours, there is a business in data centers, focused on graphic processors, or GPUs, and on complementary products for their connection and their use in large quantities. The revenues of the division increased by 56% compared to the same period of the previous year, reaching 41.1 billion dollars, below the estimate of streetcount of $ 41.34 billion for the quarter.
Margins and profits
For the quarter, the gross margins (reported and rectified) were 72.4% and 72.7% respectively. Excluding the release of 180 million dollars, the rectified gross margin for the quarter would have been 72.3%.
The profits for action (EPS) Report and rectified were 1.08 and 1.05 dollars respectively (above 1.01 dollars expected by analysts). Excluding the release of 180 million dollars and the relative tax impact, the profit for rectified action for the quarter would have been 1.04 dollars.
The CEO’s comment
“Blackwell is the artificial intelligence platform that the world waited, and represents an exceptional generational jump: the production of Blackwell Ultra is increasing at full speed and the demand is extraordinary”
He said CEO Jensen Huang.
“Nvidia Nvlink’s Rack-Scale computing is revolutionary, and it comes right in time while the artificial intelligence models based on reasoning guide increases in magnitude orders in training and inference performance. The race for artificial intelligence has started and Blackwell is the platform in its center”.
The money for shareholders
In the first half of the tax year 2026, Nvidia returned 24.3 billion dollars to shareholders in the form of regained and cash dividends. At the end of the second quarter, the company still had 14.7 billion dollars based on the authorization to regain actions. On August 26, 2025, the Board approved a further amount of 60 billion dollars for authorization to regain the company’s shares, without expiry.
Nvidia will pay for her next quarterly dividend in cash of $ 0.01 per action on October 2, 2025 to all shareholders registered on 11 September 2025.
Forecasts
For the third quarter of the tax year 2026 Nvidia provides for a turnover of 54 billion dollars, more or less 2%. The company has not foreseen h2o shipments in China in forecasts. This figure is confronted with the average estimate of analysts of 53.1 billion dollars. The gross margins (reported and rectified) are expected to 73.3%and 73.5%respectively, more or less 50 basic points (only slightly higher than the analysts’ estimates of 73.3%). The company continues to predict to close the year with gross margins rectified in the mid -range of 70%.
