Nvidia raises long-term growth guide to 70% revenue expansion through 2028
Nvidia announced Q3 revenue of $96.2 billion and set a fiscal 2028 target of roughly 70% annual growth, significantly exceeding analyst projections.
Nvidia reported quarterly revenue of $96.2 billion (€82.4bn), surpassing the Wall Street forecast of $92.2 billion (€79bn). On the subsequent earnings call, chief financial officer Colette Kress guided for approximately 70% revenue growth into fiscal year 2028. This outlook is well above the 45% average projected by analysts. Kress stated that demand acceleration continues even at the company's current scale, noting customer forecasts indicate a doubling of growth next year. Chief executive Jensen Huang added that artificial intelligence has reached an inflection point where compute acts as direct revenue. Following the initial release, shares declined 1.8% in after-hours trading. However, the stock reversed this trend and rose more than 4% in late trading after investors reacted to Kress's bullish remarks. The company holds a market capitalization north of $5 trillion.
