Nvidia Smashes Q2 Estimates With Record $96.2 Billion Revenue, Doubling Year Over Year

Nvidia reported second-quarter revenue of $96.2 billion for FY2027, up 106% year over year and 18% from the prior quarter, with adjusted EPS of $2.22 beating Wall Street expectations. The AI chip giant posted net income of $59.7 billion and guided for $106-110 billion in Q3 revenue. CFO Colette Kress said the company expects revenue to grow 70% through 2028, though gross margins will narrow due to rising memory prices.

Key Takeaways

Nvidia reported second-quarter revenue of $96.2 billion for FY2027, up 106% year over year and 18% from the prior quarter, with adjusted EPS of $2.22 beating Wall Street expectations.
The AI chip giant posted net income of $59.7 billion and guided for $106-110 billion in Q3 revenue.
CFO Colette Kress said the company expects revenue to grow 70% through 2028, though gross margins will narrow due to rising memory prices.

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Nvidia on Wednesday reported fiscal second-quarter results that again surpassed analyst expectations, reinforcing the company's dominance in the AI chip market amid surging global demand.

The Santa Clara, California-based company posted revenue of $96.2 billion for the quarter ended July 26, 2026 — more than double the $46.7 billion recorded in the same quarter last year. Adjusted earnings per share came in at $2.22, beating consensus estimates of $2.09. Net income reached $59.7 billion.

The results marked Nvidia's 15th consecutive quarter of year-over-year growth exceeding 100%, as enterprise and hyperscaler spending on AI infrastructure continues to accelerate. The company's data center segment, which accounts for the vast majority of revenue, continued to benefit from strong demand for its Blackwell-generation GPU platforms.

"Demand is accelerating," CEO Jensen Huang said on the earnings call. "Every major cloud provider, every enterprise, and every sovereign AI initiative is scaling up their AI infrastructure, and Nvidia is at the center of it all."

CFO Colette Kress guided for third-quarter revenue of $106-110 billion, comfortably above the $104 billion consensus. However, she cautioned that gross margins would compress somewhat due to rising memory prices and the company's aggressive investment in next-generation chip architectures.

Kress told analysts that Nvidia expects its revenue to grow approximately 70% through 2028, driven by continued expansion in AI training, inference, and emerging applications like agentic AI and physical AI systems.

The results come amid a broader boom in AI infrastructure spending, with major tech companies — including Microsoft, Google, Amazon, and Meta — all planning to increase capital expenditures on AI data centers in 2026 and beyond.