Nvidia books $96.2 billion revenue, expects $108 billion in Q3

Nvidia reports revenue of $96.2 billion for the second quarter of fiscal 2027, which ended on July 26, 2026. That is 106% more than a year earlier and 18% more than the previous quarter. The results beat the analyst expectation of $92.2 billion. For the third quarter, Nvidia expects revenue of $108 billion, again above the consensus of $104.2 billion.

In brief:

• Nvidia books $96.2 billion in revenue in Q2 fiscal 2027, an increase of 106% year on year
• The data centre division grows 117% to $89 billion and is by far the largest source of revenue
• The Q3 forecast stands at $108 billion, with no revenue from China included

Data centre dominates revenue

The data centre division accounts for the largest share of total revenue. Nvidia reports that data centre revenue came in at $89.0 billion, an increase of 117% compared with a year earlier and above the expectation of $85.8 billion. Gross margins stood at 75%, in line with estimates.

Non-GAAP earnings per share were $2.22, versus an expectation of $2.10. On a GAAP basis, that was $2.46. In addition to the data centre division, the Edge Computing division grew 27% year on year to $7.2 billion.

Vera Rubin in production, China outside the forecast

Nvidia CEO Jensen Huang says AI has reached an inflection point. “Compute capacity has become revenue,” he says. Last year, one lab drove demand; now there are numerous new AI labs and startups scaling up simultaneously. The Vera Rubin platform, which is now fully in production, is being deployed at CoreWeave, Google Cloud, Microsoft Azure and Oracle Cloud Infrastructure, among others.

The outlook for the third quarter is $108.0 billion, with a margin of plus or minus 2%. That does not include any data centre revenue from China. Goldman Sachs is also involved in Nvidia’s plans, through strategic partnerships to mobilise more than $500 billion in third-party capital for AI infrastructure. Goldman is also in the news as one of the parties that recently raised price targets for listed technology companies.

Growth next year expected around 70%, despite higher customer demand

Nvidia has sharply increased its future purchase and capacity commitments, from $119 billion in the previous quarter to $279 billion. This increase is mainly due to memory purchases.

CFO Colette Kress says customer forecasts point to a doubling of growth next year, but that Nvidia itself expects growth of around 70% due to supply-side constraints. In the second quarter, Nvidia returned $26.0 billion to shareholders through share buybacks and dividends. Around $99.0 billion remains under the current buyback programme. On October 1, 2026, the company will pay a quarterly dividend of $0.25 per share to shareholders on record as of September 10, 2026.