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Nvidia’s Quarterly Revenue (Q1 2021-Q2 2025)
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Nvidia has been the center of attention of the artificial intelligence (AI) boom, and its earnings are seen as a key indicator of the health of the AI industry, according to financial experts.
As the second-most valuable company in the world, the chipmaker dominates the AI chip design and software market with a market share of 80% to 95%, according to Reuters.
This chart shows the rise of Nvidia’s quarterly earnings from Q1 2021 to Q2 2025, with figures from Nvidia’s quarterly financial reports updated as of August 28, 2024.
Nvidia Beats Second-Quarter Estimates
Nvidia reported $30 billion in second quarter revenue for fiscal year 2025, beating Wall Street estimates of $28.7 billion by about 4.5%.
This beat on earnings estimates came as Wall Street analysts have begun to question if the current hype around AI is a bubble on the verge of bursting, and if generative AI will actually be worth the significant capital invested in it so far.
Below are Nvidia’s quarterly revenue figures from their fiscal year 2021 to 2025.
For reference, Nvidia’s fiscal year ends on the last Sunday of January, with their fiscal year labeled according to the calendar year in which the fiscal year ends. This means that since their current fiscal year ends in January 2025, the quarter they just reported is labeled Q2 2025.
| Quarter | Nvidia's revenue |
|---|---|
| Q2 2025 Estimate | $28.7B |
| Q2 2025 | $30.0B |
| Q1 2025 | $26.0B |
| Q4 2024 | $22.1B |
| Q3 2024 | $18.1B |
| Q2 2024 | $13.5B |
| Q1 2024 | $7.2B |
| Q4 2023 | $6.1B |
| Q3 2023 | $5.9B |
| Q2 2023 | $6.7B |
| Q1 2023 | $8.3B |
| Q4 2022 | $7.6B |
| Q3 2022 | $7.1B |
| Q2 2022 | $6.5B |
| Q1 2022 | $5.7B |
| Q4 2021 | $5.0B |
| Q3 2021 | $4.7B |
| Q2 2021 | $3.9B |
| Q1 2021 | $3.1B |
Nvidia’s Q2 2025 revenue figure of $30 billion is a 15% increase from last quarter and a 122% increase year-over-year. While these figures are impressive, their quarterly revenue growth is starting to show signs of slowing momentum, as the previous three quarters had quarterly growth of 18% (Q1 2025), 22% (Q4 2024), and 34% (Q3 2024).
Nvidia’s main source of revenue comes from its data center business, which includes its AI processors. Its data center generated a record $26.3 billion this quarter, accounting for 88% of the AI giant’s total revenue.
The company said it is currently shipping out samples of its newest next-generation Blackwell GPU architecture to customers.
Nvidia CFO Colette Kress said the company expects to ship “several billion dollars” of Blackwell revenue in the fourth quarter of fiscal 2025.
Nvidia expects to generate $32.5 billion in revenue next quarter, plus or minus 2%.
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To learn more about Nvidia’s financial performance, check out this graphic that compares Nvidia’s market cap to several other major tech companies.
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