EarningsQ2 2027 Earnings Report

Nvidia (NVDA) Q2 2027 Earnings Report

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Previous Report: Q1 2027

MX:NVDA Q2 2027 EPS Results

Actual EPS$38.16

Consensus EPS$35.93

Beat/MissBeat by +$2.23

One Year Ago EPS$18.01

MX:NVDA Q2 2027 Revenue Results

Actual Revenue$1.65T

Expected Revenue$1.58T

Beat/MissBeat by +$67.77B

YoY Revenue Growth+105.85%

Earnings Announcement Details

QuarterQ2 2027

Date08/26/2026

TimeAfter Close

Conference CallWednesday, August 26, 2026

MX:NVDA Upcoming Earnings

Nvidia's next earnings date is estimated for November 25, 2026, based on past reporting schedules.

Q2 2027 Earnings Call Audio

MX:NVDA Q2 2027 Earnings Call

0:00 / 0:00

Q2 2027 Earnings Slide Deck

Q2 2027 Earnings Call Summary

Q2 2027

Earnings Call Date:Aug 26, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call was strongly positive on demand, product ramps and strategic partnerships — record revenue ($96B), robust data center growth (+18% Q/Q), major customer commitments (AWS, OpenAI) and rapid Vera Rubin production. At the same time, significant near-term operational headwinds persist: supply constraints limiting fulfilled demand, sharp memory price inflation pressuring gross margins (guidance down to mid-low 70%s), rising operating expenses, and sizable capital commitments to AI labs that increase balance-sheet exposure. Overall the company emphasized strong secular tailwinds and execution confidence while acknowledging margin and supply bottlenecks in the near term.

Company Guidance

NVIDIA guided third-quarter fiscal‑2027 revenue of $108 billion ±2% and said Vera Rubin will account for about 20% of data‑center sales in Q3, while forecasting fiscal‑2028 revenue growth of approximately 70% year‑over‑year (supply‑constrained). They expect Q3 GAAP and non‑GAAP gross margins of 74% ±50 basis points, with margins bottoming in Q4 at 71–72% and settling at 72–73% in fiscal‑2028 as price increases take effect; Q3 operating expenses are expected to be about $9.2 billion (GAAP) and $9.0 billion (non‑GAAP) and full‑year OpEx to grow in the low‑50s percent. Other guidance/metrics included a fiscal‑2027 effective tax rate of 16–18%, inventory of $32 billion, days sales outstanding of 60, and the company noted Q2 return of $26 billion to shareholders ($20 billion repurchases, $6 billion dividend of $0.25/share) and that memory cost inflation is pressuring margins.

Record Revenue, Operating Income and EPS

Total revenue of $96.0B in Q2 FY2027, more than doubled year-over-year (>100% YoY), with record operating income and EPS; company returned a record $26B to shareholders ($20B repurchases, $6B dividends).

Data Center Strength and Overall Growth Guidance

Q2 data center revenue of $89B, up 18% sequentially; company forecasts ~70% revenue growth for fiscal 2028 (supply-constrained outlook) and Q3 revenue guide of $108B +/-2%.

Hyperscale and ACIE Growth

Hyperscale revenue of $49B, +13% sequentially; ACIE (NeoCloud, enterprise, sovereign) revenue $40B, +25% sequentially and +138% YoY, with ACIE expected to represent roughly half of data center business going forward.

Vera Rubin Product Ramp and Performance Gains

Vera Rubin commenced production shipments and is expected to be the fastest product ramp in company history; said to deliver ~30x higher throughput per megawatt and ~35x lower token costs vs Grace Blackwell Ultra; Vera Rubin expected to account for ~20% of data center revenue in Q3.

Major Cloud and Ecosystem Partnerships

Expanded partnership with AWS: additional 2 million GPUs deployed through Q2 FY2029; AWS to run Nemotron models on Bedrock/SageMaker and adopt NVIDIA's physical AI stack. OpenAI committed ~12 GW of NVIDIA compute through 2030; multiple NeoCloud and sovereign partnerships announced globally.

Networking and Specialized Accelerator Momentum

Networking revenue grew 18% sequentially; Spectrum-X Ethernet grew 2.6x YoY. Groq 3 LPX LPU system in full production, demonstrating ~4x tokens/sec vs next-best alternative and planned volume shipments later this quarter.

CPU Progress and TAM Expansion

Grace CPU trailing 12-month revenue > $5B; new Vera CPU in full production (1.8x faster on spec benchmark, 5x bandwidth per watt), with company expecting CPU revenue to more than double in fiscal '28 and citing ~$20B demand opportunity for server CPUs.

NeoCloud Capacity Build and Recurring Revenue Model

NeoCloud partners expected to exit year with 8 GW installed capacity (from ~3 GW at end of 2025); introduced revenue-sharing take-or-pay model for NeoCloud financing to generate recurring usage-linked revenue in addition to hardware sales.

Large-Scale Financing and Frontier AI Lab Support

Nearly $50B invested in Frontier AI labs to date; partnerships with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR to establish platforms to raise >$500B of third-party capital to fund AI infrastructure; secured Portsmouth site initial 4.25 GW for OpenAI.

Strong Cash Flow & Capital Allocation

Returned ~60% of free cash flow YTD and committed to increasing returns of excess free cash flow net of strategic uses; inventory build and buybacks indicate aggressive product and capital allocation strategy.

MX:NVDA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Nov 25, 2026	2027 (Q3)	42.38 / -	22.303	―
Aug 26, 2026	2027 (Q2)	35.93 / 38.16	18.014	111.81% (+20.14)
May 20, 2026	2027 (Q1)	30.06 / 32.01	13.897	130.37% (+18.12)
Feb 25, 2026	2026 (Q4)	26.33 / 27.79	15.269	82.02% (+12.52)
Nov 19, 2025	2026 (Q3)	21.63 / 22.30	13.897	60.49% (+8.41)
Aug 27, 2025	2026 (Q2)	17.31 / 18.01	11.666	54.41% (+6.35)
May 28, 2025	2026 (Q1)	12.64 / 13.90	10.5	32.35% (+3.40)
Feb 26, 2025	2025 (Q4)	14.55 / 15.27	8.853	72.48% (+6.42)
Nov 20, 2024	2025 (Q3)	12.83 / 13.90	6.897	101.49% (+7.00)
Aug 28, 2024	2025 (Q2)	11.07 / 11.67	4.632	151.85% (+7.03)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed