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NVIDIA (NVDA) Q2 FY2027 earnings: revenue $96.2 billion, up 105.9% on the year

NVIDIA Corp. (NVDA) reported revenue of $96.2 billion for Q2 FY2027, the quarter ended 26 July 2026, up 105.9% on the same quarter a year earlier. Net income was $59.7 billion, up 125.9% on the year, and diluted earnings per share $2.46. The figures are the company's own, from the 10-Q it filed with the SEC on 26 August 2026.

Revenue
$96.2 billion
+105.9% on the year · +17.9% on the quarter
Q3 FY2025Q2 FY2027
Operating margin
66.2%
60.8% a year earlier
Q3 FY2025Q2 FY2027
Net income
$59.7 billion
+125.9% on the year · +2.3% on the quarter
Q3 FY2025Q2 FY2027
Diluted EPS
$2.46
+127.8% on the year · +2.9% on the quarter
Q3 FY2025Q2 FY2027

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 4 new, 2 kept.

  • Revenue reached $96.2 billion: Revenue rose 18% sequentially and 106% from a year ago, with Data Center making up most of the total.
  • Data Center revenue reached $89.0 billion: Data Center revenue rose 18% sequentially and 117% from a year ago, driven by the ramp of Blackwell Ultra infrastructure.
  • Gross margin rose on Blackwell Ultra mix: Gross margin rose year over year on both GAAP and non-GAAP bases, as product mix shifted toward Blackwell Ultra.
Read the earnings call summary

Income statement (profit and loss)

$ millionQ2 FY2027Q1 FY2027Q2 FY2026On the quarterOn the yearLast 8 quarters
Revenue96,22181,61546,743+17.9%+105.9%
Cost of revenue24,07920,45812,890+17.7%+86.8%
Gross profit72,14261,15733,853+18.0%+113.1%
Gross margin75.0%74.9%72.4%
Research and development7,0546,3214,291+11.6%+64.4%
Selling, general and administrative1,3541,3001,122+4.2%+20.7%
Operating income63,73453,53628,440+19.0%+124.1%
Operating margin66.2%65.6%60.8%
Interest expense22710262.0+122.5%+266.1%
Pre-tax income71,50769,90331,206+2.3%+129.1%
Income tax11,81911,5824,784+2.0%+147.1%
Effective tax rate16.5%16.6%15.3%
Net income59,68858,32126,422+2.3%+125.9%
Net margin62.0%71.5%56.5%
Diluted EPS$2.46$2.39$1.08+2.9%+127.8%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionQ2 FY2027Q1 FY2027Q2 FY2026On the quarterOn the yearLast 8 quarters
Operating cash flow24,07750,34415,365-52.2%+56.7%
Capital expenditure2,6771,7571,895+52.4%+41.3%
Free cash flow21,40048,58713,470-56.0%+58.9%
Free cash flow margin22.2%59.5%28.8%
Cash from investing-8,695-26,429-7,127
Cash from financing-6,176-21,283-11,833
Depreciation and amortisation1,127997669+13.0%+68.5%
Share-based compensation2,0271,9281,624+5.1%+24.8%
Buybacks19,73219,3129,720+2.2%+103.0%
Dividends paid6,000243244+2,369.1%+2,359.0%
Dividend per share$0.25$0.01$0.01+2,400.0%+2,400.0%
Diluted shares, weighted24,285m24,391m24,532m-0.4%-1.0%
Shares outstanding at period end24,100m24,200m24,300m-0.4%-0.8%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ2 FY2027Q1 FY2027Q2 FY2026On the quarterOn the yearLast 8 quarters
Shareholders' equity228,984195,474100,131+17.1%+128.7%
Debt33,3668,4708,466+293.9%+294.1%
Operating lease liabilities4,9853,8781,831+28.5%+172.3%
Other liabilities52,93751,65230,312+2.5%+74.6%
Total liabilities and equity320,272259,474140,740+23.4%+127.6%
Fixed assets14,28512,4039,141+15.2%+56.3%
Goodwill21,12520,8945,755+1.1%+267.1%
Intangible assets2,9983,120755-3.9%+297.1%
Investmentsn/an/a45,152
Securities held for sale or to maturity46,90039,233n/a+19.5%
Cash and equivalents22,44313,23711,639+69.5%+92.8%
Receivables63,05940,71027,808+54.9%+126.8%
Inventory31,57525,79714,962+22.4%+111.0%
Other assets117,887104,08025,528+13.3%+361.8%
Total assets320,272259,474140,740+23.4%+127.6%

Questions

What was NVIDIA's revenue in Q2 FY2027?

NVIDIA (NVDA) reported revenue of $96.2 billion for Q2 FY2027, the quarter ended 26 July 2026, up 105.9% on the same quarter a year earlier.

How much did NVIDIA earn in Q2 FY2027?

Net income for Q2 FY2027 was $59.7 billion, up 125.9% on the year, and diluted earnings per share $2.46.

When did NVIDIA report Q2 FY2027 results?

NVIDIA filed its 10-Q for the quarter ended 26 July 2026 with the SEC on 26 August 2026.

Quarterly results, the last 20 quarters

Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026Q4 FY2026 *Q1 FY2027Q2 FY2027
Revenue7,1037,6438,2886,7045,9316,0517,19213,50718,12022,10326,04430,04035,08239,33144,06246,74357,00668,12781,61596,221
Cost of revenue2,4722,6432,8573,7892,7542,2182,5444,0454,7205,3125,6387,4668,92610,60917,39412,89015,15717,03420,45824,079
Gross profit4,6315,0005,4312,9153,1773,8334,6489,46213,40016,79120,40622,57426,15628,72226,66833,85341,84951,09361,15772,142
Gross margin65%65%66%43%54%63%65%70%74%76%78%75%75%73%61%72%73%75%75%75%
R&D1,4031,4671,6181,8241,9451,9521,8752,0402,2942,4662,7203,0903,3903,7143,9894,2914,7055,5126,3217,054
SG&A5575635925926316256336226897107778428979751,0411,1221,1341,2821,3001,354
Operating income2,6712,9701,8684996011,2562,1406,80010,41713,61516,90918,64221,86924,03321,63828,44036,01044,29953,53663,734
Operating margin38%39%23%7%10%21%30%50%57%62%65%62%62%61%49%61%63%65%66%66%
Interest expense62.061.068.065.065.064.066.065.063.063.064.061.061.061.063.062.061.073.0102227
Pre-tax income2,6382,8651,8054756131,2882,2096,98110,52214,10617,27919,21422,31625,21721,91031,20637,93650,39869,90371,507
Tax rate7%-5%10%-38%-11%-10%8%11%12%13%14%14%13%12%14%15%16%15%17%17%
Net income2,4643,0021,6186566801,4142,0436,1889,24312,28614,88116,59919,30922,09118,77526,42231,91042,96058,32159,688
Net margin35%39%20%10%11%23%28%46%51%56%57%55%55%56%43%57%56%63%71%62%
Diluted EPS$0.10n/a$0.06$0.03$0.03$0.06$0.08$0.25$0.37$0.49$0.60$0.67$0.78$0.89$0.76$1.08$1.30$1.76$2.39$2.46
Operating cash flow1,5193,0331,7311,2703922,2482,9116,3487,33211,49915,34514,48817,62716,62927,41415,36523,75136,18850,34424,077
Capital expenditure222273n/an/an/an/a2482892782543699778131,0771,2271,8951,6361,2841,7572,677
Free cash flow1,2972,760n/an/an/an/a2,6636,0597,05411,24514,97613,51116,81415,55226,18713,47022,11534,90448,58721,400
Buybacks0.00.01,9963,3453,4851,2130.03,0673,8072,6597,7407,15810,9977,81114,0959,72012,4563,81519,31219,732
Dividends paid10010010010010098.099.099.099.098.098.02462452452442442442422436,000
Shares outstanding25,000m25,060m25,000m24,900m24,600m24,660m24,700m24,700m24,700m24,640m24,600m24,530m24,490m24,477m24,400m24,300m24,300m24,304m24,200m24,100m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A blank figure marked on a quarter is one the filings do not give on their own: the quarters as filed do not add to the year the company filed, or the year and its quarters stand on different share counts. Each quarter's page says which. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 26 July 2026, filed 26 August 2026: the filing.