NVDA

NVDA 2Q25:Poised to Re-accelerate

FUNDA·August 28, 2025 at 2:03 PM UTC

New Narrative? Clearing Event?

Our 2Q25 revenue estimate came in slightly below actual results, but NVDA's stock price is clearly more influenced by the 3Q25 guidance.

NV 25Q2 Earnings Key Metrics

  • 25Q2 revenue $46.7bn, GAAP and non-GAAP gross margins at 72.4% and 72.7% respectively, with DC revenue reaching $41bn

  • 25Q3 guidance: Revenue $54bn, GAAP and non-GAAP gross margins at 73.3% and 73.5% respectively, +/- 50bps, reiterating year-end GPM target of mid-70%

Earnings Commentary

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