Nvidia Beats Q2 Estimates, Guides 70% Fiscal 2028 Growth

Nvidia beat Q2 estimates with $96.22B revenue and guided to roughly 70% fiscal 2028 growth, sending shares up 4% despite warning that 'extreme' memory costs will pressure margins. Salesforce jumped 12% after an earnings beat and raised guidance, helped by AI growth and a $2.6B Anthropic investment gain; CrowdStrike also topped views, while DICK'S Sporting plunged 31% on a weak outlook. July core PCE rose 3.3% annually, roughly in line with forecasts, leaving September Fed rate-hike odds near 40%.

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Nvidia Beats Q2 Estimates, Guides 70% Fiscal 2028 Growth Nvidia reported adjusted EPS of $2.22 on revenue of $96.22B, beating estimates, and guided current-quarter revenue to $108B. The company forecast roughly 70% fiscal 2028 revenue growth but warned 'extreme' memory costs will pressure gross margins; shares rose 4% after an initial dip. 1 2 3 4

Salesforce Jumps 12% on AI Growth, Anthropic Investment Gain Salesforce posted adjusted EPS of $5.90 versus $3.27 expected and revenue of $11.35B, up 11%, while raising full-year revenue guidance by $200M. The quarter included a $2.6B gain on its Anthropic stake, and AI-related ARR reached nearly $3.9B, up over 210%. 5 6

CrowdStrike Stock Climbs as Earnings, Revenue, Outlook Top Views CrowdStrike shares climbed after the cybersecurity firm's quarterly earnings, revenue and outlook topped Wall Street expectations. The positive report added to a strong day for AI and security software names. 7

July Core PCE Rises 3.3%, Keeping Fed Rate-Hike Odds Near 40% The Fed's preferred inflation gauge rose 0.2% in July, holding the annual rate at 3.7%, slightly above forecasts, while core PCE rose 3.3% as expected. Stocks were flat to lower and Treasury yields stayed elevated, with fed funds futures pricing about a 40% chance of a September rate hike. 8 9 10 11

DICK'S Sporting Shares Plunge 31% on Soft Q2 Earnings, Lower View DICK'S Sporting Goods reported adjusted EPS of $3.53, missing the $3.78 consensus, and revenue of $5.59B, also short of estimates, while cutting its fiscal 2026 outlook. Shares plunged about 31% as a promotional athletic footwear market and weak Foot Locker comparable sales pressured results. 12

Raymond James Raises Nvidia Price Target to $352, Sees CPU Growth Raymond James raised its Nvidia price target to $352 from $330 and kept a Strong Buy rating, arguing CPUs could become one of Nvidia's fastest-growing businesses. The firm estimates CPUs are about 3% of revenue today, potentially rising to 5% by calendar 2028, and notes Nvidia trades below 15 times its calendar 2027 GAAP earnings estimate. 13