Nvidia Q2 FY27: revenue doubles to $96.2 billion, guidance $108.0 billion
Nvidia's Q2 FY27 revenue doubled from a year ago to $96.221 billion, with a 75.0% gross margin and $59.688 billion of net income. The quarter beat the $91.0 billion guidance midpoint by $5.221 billion, the fourth straight beat. The catch: $7.771 billion of pre-tax profit came from gains on equity investments, and receivables and inventory both ballooned, so cash generation lagged reported profit.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS was $2.46, up from $1.08 a year ago; non-GAAP came in at $2.22, up from $1.01. The unusual part is that GAAP beat non-GAAP, because $7.771 billion of gains on equity securities are excluded from the non-GAAP figure. Strip those marks out and non-GAAP net income still rose 18% sequentially to $53.954 billion, while GAAP net income grew only 2%.
Revenue of $96.221 billion more than doubled from $46.743 billion a year ago and rose 18% from $81.615 billion last quarter. Data Center did the heavy lifting at $89.023 billion, or 92.5% of the total, while Edge Computing contributed $7.198 billion. That is $5.221 billion above the $91.0 billion guidance midpoint for the quarter.
Management guided Q3 FY27 revenue to $108.0 billion, plus or minus 2%, which implies 12.2% sequential growth from $96.221 billion. Gross margin is guided to 74.0%, down from the 75.0% just reported and the first sequential step-down in this run. Nvidia has beaten its own midpoint in each of the last four quarters, by $3.006 billion, $3.127 billion, $3.615 billion and $5.221 billion.
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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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