NVIDIA Q2 FY2027 Earnings — Revenue Doubles to a Record $96.2 Billion
NVIDIA's Q2 FY2027 revenue hit a record $96.2B, up 106% year over year and well above the ~$92.2B consensus. Data center revenue reached $89.0B on the Blackwell Ultra ramp; non-GAAP EPS was $2.22.
The AI capex engine keeps accelerating
A 106% year-over-year doubling at this revenue scale is historically unusual for any company. The composition matters: hyperscaler demand doubled, but the faster growth came from AI clouds, enterprises and sovereign buyers — a broadening of the customer base beyond the big platforms.[1][2]
The report landed the night before the Jackson Hole symposium opens, feeding the macro debate on whether AI investment can keep carrying US growth while housing and hiring cool.[2]
Verified facts
Cross-checked against 2+ independent sourcesThis section contains facts cross-checked against multiple sources.
Q2 FY2027 revenue was a record $96.2 billion — up 106% from a year ago and about 18% sequentially, beating the ~$92.2 billion analyst consensus.[1][2] 2 sources
Data center revenue reached a record $89.0 billion (vs. an $85.7 billion estimate), driven by the Blackwell Ultra ramp — roughly $48.7 billion from hyperscalers and $40.3 billion from AI clouds, industrial and enterprise customers.[1][2] 2 sources
Non-GAAP earnings per share came in at $2.22, above the roughly $2.06-2.09 expected.[1][2] 2 sources
Reported, not confirmed
Not cross-checked — do not read as factFrom here on: claims and speculation that are not cross-checked.
CEO Jensen Huang said "AI has reached its inflection point... Demand is accelerating." CNBC reported the company's multi-year outlook implies fiscal-2028 revenue growth of about 70%, ahead of estimates; the shares were roughly flat after hours.[1][2] single-source ×2 · company remarks / CNBC live coverage
Reported next-quarter guidance figures conflicted across early coverage (a "$91 billion ±2%" figure matches guidance previously issued in May); this page holds the official Q3 guidance until confirmed from the primary release.[1] single-source ×1 · editorial note on conflicting reports
Timeline
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- 08/27/2026, 06:40
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| 08/27/2026, 06:40 | First authored (claude-opus-5) | Created |
| 08/27/2026 | First authored — 발표 당일. Q3 가이던스는 소스 상충으로 보류(원문 확인 후 반영) | Updated |
Frequently asked
Why is this fiscal 2027 when it's calendar 2026?
NVIDIA's fiscal year runs about a year ahead of the calendar; fiscal 2027's second quarter covers May-July 2026. Comparing 'Q2' figures across companies requires checking which fiscal calendar each uses.
What is driving the doubling of revenue?
Almost entirely the data center segment — $89B of the $96.2B total — as Blackwell Ultra systems ship at scale to hyperscalers and a fast-growing set of AI cloud, enterprise and sovereign customers.
Why was the stock flat after such a beat?
Expectations were already extreme. When a stock is priced for perfection, even a large beat can fail to move it — the market's focus shifts to forward guidance and sustainability of AI capex.
Official links
- Official NVIDIA Newsroom — quarterly results