Nvidia announced on 26 August 2026 that its second‑quarter 2024 revenue reached $96.2 billion and net profit climbed to $59.7 billion. Both metrics represent an increase of more than 100 % compared with the same quarter in 2023, according to the Swiss newspaper NZZ.
Q2 2024 earnings break down
The earnings release, filed as a press‑release on the company’s website, lists the two headline figures without providing a detailed segment breakdown. The revenue figure of $96.2 billion reflects sales of Nvidia’s AI‑focused GPUs, data‑center chips and related services for the three‑month period ending 30 June 2024. Net profit of $59.7 billion, also for the quarter, is after accounting for operating expenses, taxes and interest.
Both numbers are sourced from the NZZ article that cites the company’s own filing (NZZ), which in turn quotes the official earnings release.
How the numbers compare with prior quarters
Comparing the Q2 2024 results with the most recent quarterly filing on record – Nvidia’s Form 10‑Q for the quarter ended 26 April 2026 – highlights a shift in growth momentum. The 10‑Q shows revenue of $81.615 billion and net income of $58.321 billion for the three‑month period 26 January 2026 to 26 April 2026 (fiscal year 2027). Those figures are lower than the Q2 2024 totals, indicating that the extraordinary surge seen in mid‑2024 has moderated in the most recent quarter.
Both the 2024 and 2026 quarters are presented in U.S. dollars, and the filing dates are 20 May 2026 for the 10‑Q and 26 August 2026 for the earnings release. The contrast underscores how the AI‑driven demand spike that propelled Nvidia’s 2024 earnings has begun to level off as the market digests the rapid expansion of compute capacity.
| Metric | Q2 2024 | Q1 2026 (10‑Q) |
|---|---|---|
| Revenue | $96.2 billion | $81.615 billion |
| Net income | $59.7 billion | $58.321 billion |
| Sources: NZZ (Q2 2024 earnings release); SEC Form 10‑Q filed 20 May 2026. | ||
The table makes clear that while Q2 2024 set a new high, the most recent quarter still delivered double‑digit profit margins, a hallmark of Nvidia’s business model.
CEO Jensen Huang on AI‑infrastructure build‑out
The earnings release also quoted founder‑CEO Jensen Huang, who said, “Der Ausbau der KI‑Infrastruktur läuft mit Volldampf” (the AI‑infrastructure build‑out is proceeding at full steam). The remark, reproduced in the NZZ coverage, signals that Nvidia expects the current demand surge to continue, even as quarterly growth rates moderate.
Huang’s comment is the only direct statement from company leadership in the packet. No additional guidance on future revenue or profit was provided, and the filing does not contain a formal outlook for the next quarter.
Implications for investors and the AI market
For investors, the double‑digit YoY growth in both revenue and profit reinforces Nvidia’s position as the dominant supplier of AI compute hardware. The figures come after a “period of weak weeks” that the NZZ excerpt describes, suggesting that the earnings release may have helped stabilize sentiment.
Analysts tracking the semiconductor sector will likely compare Nvidia’s Q2 2024 performance with peers such as AMD and Intel. While the packet does not contain peer data, the sheer scale of $96.2 billion in revenue places Nvidia well above the typical annual revenue of most chipmakers, a point that investors will weigh against valuation multiples.
Shareholders should note that the earnings release does not alter the number of shares outstanding, which the SEC filing lists as 24.304 billion shares as of 25 January 2026. Consequently, any change in market price will directly affect the company’s market capitalisation, but the packet does not provide a current share price.
What remains unknown
- The exact revenue and profit figures for Q2 2023 are not disclosed in the packet; the claim that the 2024 numbers are “more than double” is based on the NZZ statement without a numeric baseline.
- No forward‑looking guidance was included in the earnings release, so investors lack a formal outlook for Q3 2024 or beyond.
- Details on geographic revenue split, product‑line contributions, or capital‑expenditure plans are absent from the sources.
- The impact on Nvidia’s valuation metrics (price‑to‑earnings, price‑to‑sales) cannot be assessed without a current share price.
State Beacon will update the story if the company files a subsequent 10‑Q or issues guidance that fills these gaps.