Nvidia's CFO Outlines Ambitious Growth Target for Fiscal Year 2028
Nvidia Corp (NASDAQ:NVDA) reported a strong fiscal second-quarter performance, with revenue reaching $96.22 billion and adjusted earnings of $2.22 per share both exceeding expectations. The company also provided third-quarter guidance above analyst estimates at $108 billion. However, the most significant market reaction came from CFO Colette Kress's comments on a long-term growth target. Kress revealed that Nvidia expects 70% revenue growth in fiscal year 2028—well ahead of the previously modeled 44%. She attributed this optimism to strong customer demand and rising capital expenditures among top hyperscalers, which are projected to increase from $800 billion in 2026 to $1.3 trillion next year. Despite these positive projections, Kress warned that near-term margin pressures due to memory shortages will persist until the fourth quarter of fiscal 2027 when gross margins are expected to stabilize between 71% and 72%. The company has already spent heavily—$145 billion in Q1 alone—to secure supply.
Tickers: $NVDA
Topics: AI growth guidance hyperscalers semiconductors