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Nvidia ( NVDA ) reported better-than-expected revenue and earnings for the second quarter of fiscal 2025, though the pace of its growth slowed. Shares fell in extended trading Wednesday following the release.

The chipmaker reported second-quarter revenue of $30 billion, more than doubling from the year-ago period. Net income for the fiscal second quarter was $16.6 billion, also more than double its value the year prior. Both figures exceeded analysts' expectations compiled by Visible Alpha, though growth slowed from previous quarters.

Data Center Revenue Rises to Record High on AI Demand

Data center revenue for the fiscal second quarter was $26.3 billion, setting a new record high and more than doubling from the year prior.

"Hopper demand remains strong, and the anticipation for Blackwell is incredible," Nvidia CEO Jensen Huang said, adding that the chipmaker "achieved record revenues as global data centers are in full throttle to modernize the entire computing stack with accelerated computing and generative AI."

Nvidia Says Its Blackwell Plans Are Still on Track

After concerns about reported delays in Nvidia’s Blackwell AI chip sent Nvidia's stock price tumbling earlier this month, the chipmaker said Wednesday it began shipping some samples of its Blackwell chip in the second quarter, and expects to "ship several billion dollars in Blackwell revenue" during the fourth quarter as production ramps up.

The chipmaker gave a stronger-than-expected outlook for the third quarter of fiscal 2025, with revenue expected to be around $32.5 billion.

Nvidia's board also approved a new $50 billion share buyback plan. The company said it had $7.5 billion worth of previously authorized repurchases as of the end of the first half.

Despite Nvidia's earnings and revenue beat, the chipmaker's stock was down over 5% at $118.40 in extended trading Wednesday following the company's earnings release.

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