NVDA earnings: Nvidia beats Wall Street bets, boosts revenue 122% as AI stock hype continues to grow

Nvidia Corporation released its second quarter 2025 earnings report on Wednesday after the market closed, showing revenue of $30 billion and earnings per share of $0.64. Those numbers beat analyst expectations, which led to revenue expectations of $28.7 billion.

It’s worth noting that Nvidia’s revenue grew by 122% year-on-year, as demand for its processors continues to grow. The company also announced a $50 billion stock buyback.

“Nvidia has achieved records as global data centers are fully operational to modernize the entire computing landscape with faster computing and productive AI,” said Jensen Huang, founder and CEO of Nvidia, in a statement.

The earnings report—one of the most-anticipated earnings in recent memory—serves as a signal of whether artificial intelligence’s upward trajectory over the past year and a half should continue. A strong wage, in this case, can be a sign that demand is still high, while a weak wage, on the contrary, can be a sign that the rally is coming out.

Given Nvidia’s strong earnings, that doesn’t seem to be the case.

Prior to the earnings report, Nvidia shares were trading between 2% and 3% higher for most of Wednesday, around $125 per share. Year to date, however, shares are up nearly 160%; and in the last five years, it has increased by almost 3,000%. That growth is largely due to the company’s processors, which have powered AI’s rise in popularity.

Despite the expected earnings numbers, Nvidia shares were trending lower—stock prices were down less than 5% as of 4:30 pm ET.

While AI is expected to continue to power the economy in the coming years, analysts have recently warned that the hype is oversold, and that the high valuations of AI-related stocks, such as Nvidia, were unfairly high. Since Nvidia’s market cap has exceeded $3 trillion, it now comprises about 7% of the S&P 500. Therefore, a large enough swing in its value—up or down—can have consequences for the entire market, too. The same goes for other technology stocks, such as Apple, Microsoft, and Amazon, which also comprise a significant percentage of the S&P 500.