Q2 was another record quarter. Revenue of $30 billion was up 15% sequentially and up 122% year-on-year and well above our outlook of $28 billion.
— Colette Kress
03Detailed Report
NVDA
NVIDIA Corporation
Period
Q2 2025
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 14, 2026
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Executive Summary
NVIDIA Corporation (NVDA) reported spectacular results for Q2 2025, delivering a record revenue of $30 billion, reflecting a 15% sequential increase and a staggering 122% year-on-year leap. This impressive performance was driven significantly by the robust demand for its advanced AI and data center solutions, particularly the Hopper architecture. Management emphasized the ongoing transformation in computing from general-purpose to accelerated computing, fueled by exponential AI growth. The company expects continued momentum, with anticipated revenue of around $32.5 billion in Q3 2025, alongside a solid gross margin forecast of about 75%. Overall, NVIDIA's strong financial health, vibrant cash flow, and increasing market presence position it favorably against industry competitors.
Key Performance Indicators
Revenue
Increasing
30.04B
QoQ: 15.34% | YoY: 122.40%
Gross Profit
Increasing
22.57B
75.15% margin
QoQ: 10.62% | YoY: 138.58%
Operating Income
Increasing
18.64B
QoQ: 10.25% | YoY: 174.15%
Net Income
Increasing
16.60B
QoQ: 11.54% | YoY: 168.24%
EPS
Increasing
0.68
QoQ: 13.33% | YoY: 172.00%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue: $30 billion (+122.4% YoY, +15.34% QoQ) | Net Income: $16.6 billion (+168.24% YoY, +11.54% QoQ) | Gross Margin: 75.1% | EPS: $0.68 (diluted) | Operating Margin: 62.06%. The Q2 2025 revenue surpasses management expectations significantly, which projected $28 billion. Notably, data center revenue hit a record $26.3 billion, marking a 154% increase year-on-year. Demand for NVIDIA's products has risen dramatically, with cloud service providers contributing approximately 45% of data center revenue. Management reiterated their focus on offering unprecedented throughput and efficiency in AI applications to support rapidly escalating computational needs.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
30.04B
122.40%
15.34%
Gross Profit
22.57B
138.58%
10.62%
Operating Income
18.64B
174.15%
10.25%
Net Income
16.60B
168.24%
11.54%
EPS
0.68
172.00%
13.33%
Key Financial Ratios
Gross Profit Margin
Excellent
75.10%
Gross profit margin is exceptional, indicating strong pricing power and operational efficiency
Operating Profit Margin
Excellent
62.10%
Operating margin is exceptional, indicating strong pricing power and operational efficiency
Net Profit Margin
Excellent
55.30%
Net profit margin is exceptional, indicating strong pricing power and operational efficiency
Return on Assets
Strong
19.50%
Return on assets demonstrates excellent capital efficiency and value creation
Return on Equity
Strong
28.50%
Return on equity demonstrates excellent capital efficiency and value creation
Current Ratio
Strong
4.27
Current ratio indicates excellent liquidity and financial flexibility
Debt to Equity
Conservative
0.17
Debt-to-equity shows conservative leverage and low financial risk
P/E Ratio
High Growth
41.31x
Very high P/E indicates aggressive growth expectations, higher risk
Price to Book
High Premium
47.16x
Very high premium suggests asset-light business model or lofty expectations
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