Nvidia Earnings Beat Estimates, Sees 70% Growth Through 2028

Another Blowout Quarter for Nvidia

Nvidia has once again topped Wall Street's expectations, reporting quarterly revenue of $96.22 billion for the three-month period ending in July 2026, according to its official SEC filing, comfortably surpassing the $91.90 billion analysts had projected 1. The chipmaker's shares jumped more than 4% in after-hours trading following the release, as investors cheered both the beat and an unusually bold forward outlook 5.

What set this earnings report apart from prior quarters wasn't just the numbers themselves, but Nvidia's decision to offer a rare glimpse into its longer-term trajectory. During the second-quarter earnings call, Chief Financial Officer Colette Kress told investors that the company expects revenue to grow by roughly 70% in the coming fiscal year, a figure that dwarfs the growth rate Wall Street had penciled in 6. Nvidia framed this as its first-ever year-ahead forecast, projecting roughly $100 billion in additional revenue beyond what analysts had modeled for the next fiscal year 5.

A Forecast Aimed at Silencing Doubters

The scale and specificity of Nvidia's guidance appear designed to do more than simply update investors — it seems intended to push back against a growing chorus of skeptics questioning whether AI infrastructure spending is sustainable. Some critics have raised concerns about so-called "circular financing" arrangements in the AI supply chain, where cloud providers, chipmakers, and startups fund one another in ways that inflate apparent demand. By laying out a multi-year growth path through fiscal 2028, Nvidia's leadership appears to be betting that transparency about future demand will reassure markets more than silence would 56.

Contrasting Fortunes Elsewhere in Tech and Industry

Nvidia's exuberant outlook stands in sharp contrast to other companies navigating the current economic and technological landscape. Intuit, for instance, struck a far more cautious tone, forecasting revenue growth of just 9% to 10% for fiscal 2027 — a notable slowdown from the 14% growth it posted this year — while also reporting a lower profit in its latest quarter 2. Intuit's stock slid on the news, with the company acknowledging it faces mounting competitive pressure from AI-driven alternatives and is now considering lowering prices across its business to defend market share 4.

Elsewhere, GE Aerospace delivered a strong quarter of its own, posting 23.5% year-over-year revenue growth and earnings per share of $2.02, both ahead of consensus estimates, underscoring that not all of the market's strength is concentrated in AI hardware 3.

Why It Matters

Taken together, the divergent results illustrate a market increasingly split between companies riding the AI infrastructure boom and those grappling with its disruptive effects on existing business models. Nvidia's willingness to commit to a specific multi-year growth figure raises the stakes for its own future earnings calls, setting a high bar that will keep investor scrutiny — and skepticism about AI spending sustainability — firmly in focus through 2028.