Nvidia Q1 FY27: revenue $81.62 billion, up 85.0%; Q2 guide $91.00 billion
Nvidia's April-quarter revenue rose 85.0% to $81.62 billion and gross margin held at 74.9%, so the core business is still compounding quickly. The setup is murkier: management guides the July quarter to $91.00 billion while the only consensus figure here is $94.01 billion, and the outlook assumes zero Data Center compute revenue from China. Read the results as excellent and the guidance as cautious rather than weak.
1 · Expected vs. Actual
Free preview belowGAAP earnings per diluted share were $2.39, up 214.0% from $0.76 a year ago, but non-GAAP EPS was only $1.87. The gap is mostly a $15.94 billion gain on equity securities sitting in other income, which is not money the chip business earned. Note also that from this quarter Nvidia's non-GAAP figures include $1.93 billion of stock-based compensation, which pulls the non-GAAP number down.
Revenue of $81.62 billion was up 20.0% from the January quarter and 85.0% from a year ago, when the same quarter produced $44.06 billion at a 60.5% gross margin. Data Center did $75.25 billion of that, or 92.2% of the total, with Edge Computing at $6.37 billion. This is growth on top of an already huge base, not a bounce off a weak quarter.
Management guides the July quarter to $91.00 billion, plus or minus 2.0%, with gross margins of 74.9% GAAP and 75.0% non-GAAP — roughly 11.5% sequential growth. The one consensus revenue figure provided here is $94.01 billion, so the guide midpoint lands below what the market expects. The dataset's guidance-history table also lists a $108.00 billion midpoint for FY27 Q2, which contradicts the press release; treat the press release's $91.00 billion as the real guide.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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