Nvidia Q2 FY27 Actual Results: $96.2B Revenue Beats $92B Estimate; Q3 Guided at $108B

FY2028 revenue projection: ~$673B at 70% growth (first ever this far out)

CFO Colette Kress delivered a fiscal 2028 revenue growth forecast of 70% on August 26, 2026 — implying ~$673B in annual sales if FY2027 consensus holds. This is far above the 44% average analyst estimate tracked by LSEG and marks the first time Nvidia has provided a forecast this far into the future.

NVDA closed +8.74% on earnings day, adding ~$440B market cap

Nvidia shares closed up 8.74% on Thursday August 27, adding approximately $440B to Nvidia's market cap, as the Q2 results and forward revenue guidance reassured investors that AI demand remains strong.

Supply constraints — not demand — are capping the 70% projection

Jensen Huang said actual demand exceeds the 70% forecast; component shortages including memory are the binding constraint. Quote: 'Our demand is much greater than 70%. Our supply allows us to confidently deliver 70%.''

European semiconductor stocks rally on Nvidia earnings results

ASML gained approximately 2.5%; STMicroelectronics, Infineon Technologies, and BE Semiconductor each rose 2–4% following Nvidia's Q2 results, as investors anticipated continued AI infrastructure spending on components and equipment.

Nvidia broadening customer base to ACIE beyond hyperscalers

Jensen Huang said the next growth phase will be driven by ACIE customers — regional AI companies, neocloud providers, startups, and conventional enterprises — previously 'largely invisible' but now growing deployers of production AI, reducing reliance on a handful of hyperscalers.

DSO jumped from 45 to 60 days in Q2; receivables rose 64% vs 18% revenue growth

Nvidia's days sales outstanding surged from a stable 43–46 day band over eight prior quarters to 60 days in Q2 FY27. Receivables grew 64% sequentially against 18% revenue growth — signaling extended credit terms to non-hyperscaler customers under large multi-quarter agreements.

Neoclouds drove majority of net-new Data Center revenue for first time ever

For the first time, neocloud providers contributed the majority of net-new Data Center revenue, marking a structural shift away from hyperscaler concentration. ACIE revenue rose 138% YoY and 25% QoQ, driven by AI natives, enterprises, and sovereign customers.

Neocloud credit risk: weaker balance sheets may require Nvidia supplier financing

CFO Kress attributed the DSO spike to 'extended payment terms on large, multi-quarter agreements with certain investment-grade customers.' Non-hyperscalers have weaker balance sheets than Big Tech — making receivables growth a key financial risk metric to watch in Q3.

Annual gross profit run-rate ~$324B at 75% margins — ranks second globally

At 75.0% gross margins on a $108B quarterly run-rate, Nvidia annualizes to approximately $324B in gross profit — second highest of any company in the world, surpassing most Fortune Global 500 companies.

NVDA snapped seven-day losing streak, closing +2.19% Tuesday before earnings

The stock's longest losing streak since 2022 ended the day before the Q2 report. Shares edged up an additional 0.2% pre-market on earnings day (August 26), signaling cautious optimism from investors.

Q2 earnings released after market close on August 26, 2026

Nvidia reports after the bell on August 26. Results will confirm or challenge the $92B revenue consensus and set the tone for the broader AI chip trade heading into Q3.

Actual Q2 revenue $96.2B (106% YoY) beats $92B consensus by $4.2Brevised

Nvidia reported $96.221B in Q2 FY27 revenue, up 18% quarter-over-quarter and 106% year-over-year, surpassing the $92B Wall Street consensus by more than $4B.

GAAP net income $59.7B (up 126% YoY); non-GAAP EPS $2.22 beats $2.09 estimate

Q2 GAAP net income reached $59.688B, up 126% year-over-year. Non-GAAP diluted EPS was $2.22, up 120% YoY, beating the $2.09 analyst consensus. GAAP EPS was $2.46.

Data Center actual $89.0B (up 117% YoY), exceeds $85.4B analyst forecastrevised

Data Center segment delivered $89.0B in Q2 FY27, up 18% QoQ and 117% YoY, exceeding the $85.4B analyst forecast and confirming accelerating hyperscaler and enterprise AI chip demand.

Q3 FY27 guidance $108B revenue (±2%); no China Data Center compute assumed

Nvidia guided Q3 FY27 revenue to $108B (±2%), with GAAP gross margin of 74.0% (±50bps). No Data Center compute revenue from China is included in the Q3 outlook, reflecting ongoing export restrictions.

$26B returned to shareholders in Q2; $99B buyback authorization remaining

Nvidia returned approximately $26.0B to shareholders via share repurchases and cash dividends in Q2 FY27. As of quarter-end, approximately $99.0B remains under the share repurchase authorization.

Vera Rubin in full production at CoreWeave, Google Cloud, Azure, Oracle, Nebius

The NVIDIA Vera Rubin GPU platform has ramped into full production across CoreWeave, Google Cloud, Microsoft Azure, Oracle Cloud Infrastructure, and Nebius — broad adoption of Nvidia's newest GPU architecture by all major hyperscalers.

NVIDIA Vera CPU unveiled as first CPU purpose-built for AI agents

Nvidia unveiled the NVIDIA Vera CPU, described as the first CPU built specifically for AI agents, with broad adoption planned across leading technology providers — extending Nvidia's product line beyond GPUs into agent-optimized compute.