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Jul 27, 2025
NVIDIA Q2 2026 Earnings Report
NVIDIA reported record revenue and strong earnings growth driven by surging demand for its AI data center solutions.
Key Takeaways
NVIDIA delivered a standout Q2 FY26, with $46.7B in revenue and $26.4B in GAAP net income. The data center segment was the primary driver, bolstered by demand for Blackwell platform products.
Revenue hit $46.7B, up 56% YoY, driven by strong data center performance.
GAAP EPS reached $1.08 while non-GAAP EPS came in at $1.05.
Net income surged to $26.4B, with non-GAAP operating income at $30.2B.
Blackwell platform demand accelerated across global AI infrastructure.
Revenue by Segment
Forward Guidance
NVIDIA expects Q3 FY26 revenue of $54B with continued strength in AI infrastructure but excludes H20 shipments to China.
Positive Outlook
- Q3 revenue forecasted at $54B, indicating strong demand.
- Non-GAAP gross margin expected to reach 73.5%.
- Blackwell Ultra ramping production at full speed.
- NVLink rack-scale systems drive massive AI model performance gains.
- Additional $60B approved for share repurchase authorization.
Challenges Ahead
- No H20 shipments to China expected in Q3.
- Q2 YoY gross margin declined slightly.
- High R&D and SG&A expenses expected to continue.
- Potential volatility in global economic conditions.
- Stock-based compensation and acquisition costs remain elevated.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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