Nvidia stock slides despite double beat for Q2

• Nvidia tops consensus for second quarter revenue, EPS.
• Nvidia guides for $54 billion in Q3 sales, excluding H20 sales.
• NVDA stock sinks as low as $172 afterhours on Wednesday.

Nvidia (NVDA) stock sagged some 5% afterhours on Wednesday after the leading AI chip designer delivered a consensus beat on the top and bottom lines for the second fiscal quarter.

Nvidia earned $1.05 in adjusted earnings per share (EPS) on revenue of $46.74 billion. This was a $0.04 beat to the consensus earnings figure, $610 million above the sales projection. Data center revenue, the bulk of it, was $41.1 billion, up 5% from Q1 and 56% from a year ago.

Revenue for Q3 is expected at a whopping $54 billion as demand for Nvidia’s Blackwell lineup continues to soar. But that does not consider any revenue from H20 chip sales to China, which have only recently been given the green light by the Trump administration.

Meanwhile, Snowflake (SNOW) surged 12% on its own earnings beat, while CrowdStrike (CRWD) fell some 6% despite a double beat after unveiling slightly lower Q3 guidance than analysts expected.

NVDA 15-minute chart