NVIDIA Corporation Q2 FY2025 Earnings Call

· Earnings call transcript and AI-powered summary

NVIDIA Fiscal 2Q25 Earnings Summary

Quarter Overview

  • Total revenue was $30 billion, up 15 percent sequentially and 122 percent year‑over‑year, exceeding guidance of $28 billion.
  • Strong results were driven primarily by data center demand for NVIDIA Hopper and early Blackwell adoption preparation.
  • Q3 revenue outlook is $32.5 billion plus or minus 2 percent.

Data Center Performance

  • Data center revenue reached a record $26.3 billion, up 16 percent sequentially and 154 percent year‑over‑year.
  • Compute revenue more than 2.5 times higher year‑on‑year; networking revenue more than doubled.
  • Cloud service providers contributed roughly 45 percent of data center revenue; consumer internet and enterprises comprised more than 50 percent.
  • Inference workloads represented over 40 percent of trailing four‑quarter data center revenue.
  • H200 began ramping shipments in Q2 with 40 percent more memory bandwidth than H100.
  • China data center revenue increased sequentially, though still below pre‑export‑control levels.
  • Blackwell sampling is underway; mask change is complete with no functional redesign required.
  • Blackwell production ramp expected in Q4 with several billion dollars of revenue in that quarter.

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Operator: Good afternoon. My name is Abby and I will be your conference operator today. At this time, I would like to welcome everyone to NVIDIA's Second Quarter Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you. And Mr. Stewart Stecker, you may begin your conference. Stewart Stecker: Thank you. Good afternoon, everyone, and welcome to NVIDIA's conference call for the second quarter of fiscal 2025. With me today from NVIDIA are Jensen Huang, President and Chief Executive Officer; and Colette Kress, Executive Vice President and Chief Financial Officer. I would like to remind you that our call is being webcast live on NVIDIA's Investor Relations website. The webcast will be available for replay until the conference call to discuss our financial results for the third quarter of fiscal 2025. The content of today's call is NVIDIA's property. It cannot be reproduced or transcribed without prior written consent. During this call, we may make forward-looking statements based on current expectations. These are subject to a number of risks, significant risks, and uncertainties, and our actual results may differ materially. For a discussion of factors that could affect our future financial results and business, please refer to the disclosure in today's earnings release, our most recent Forms 10-K, and 10-Q, and the reports that we may file on Form

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