Nvidia Q2: Crushing Expectations with $46.7 Billion in Revenue

NVIDIA Corporation has reported Q2 2026 numbers that exceeded expectations, with revenue at $46.7 billion. The AI giant's performance solidifies its position as the most irreplaceable company on earth.

Title: NVIDIA Reports Strong Q2 2026 Financial Performance

NVIDIA Corporation (NASDAQ: NVDA) has reported its financial results for the second quarter of fiscal 2026, which exceeded market expectations. The company's revenue for the quarter reached $46.7 billion, representing a 6% increase from the previous quarter and a 56% year-over-year growth [1].

The company's Blackwell Data Center revenue grew by 17% sequentially, demonstrating strong demand for its AI platform. Notably, there were no H20 sales to China-based customers in the second quarter, and NVIDIA benefited from a $180 million release of previously reserved H20 inventory, from approximately $650 million in unrestricted H20 sales to a customer outside of China [1].

NVIDIA's gross margins were 72.4% under GAAP and 72.7% under non-GAAP, reflecting its strong operational efficiency. Excluding the $180 million release, the non-GAAP gross margin would have been 72.3%. The company's earnings per diluted share were $1.08 under GAAP and $1.05 under non-GAAP, with earnings per diluted share excluding H20 related charges/releases, net and related tax impact being $1.04 [1].

Jensen Huang, founder and CEO of NVIDIA, stated, "Blackwell is the AI platform the world has been waiting for, delivering an exceptional generational leap — production of Blackwell Ultra is ramping at full speed, and demand is extraordinary. NVIDIA NVLink rack-scale computing is revolutionary, arriving just in time as reasoning AI models drive orders-of-magnitude increases in training and inference performance. The AI race is on, and Blackwell is the platform at its center" [1].

NVIDIA returned $24.3 billion to shareholders in the form of shares repurchased and cash dividends during the first half of fiscal 2026. The company has $14.7 billion remaining under its share repurchase authorization, with an additional $60.0 billion approved by the Board of Directors [1].

The company's outlook for the third quarter of fiscal 2026 is positive, with revenue expected to be $54.0 billion, plus or minus 2%. GAAP and non-GAAP gross margins are expected to be 73.3% and 73.5%, respectively, plus or minus 50 basis points [1].

Highlights of NVIDIA's progress in Q2 2026 include the announcement of the NVIDIA RTX PRO™ 6000 Blackwell Server Edition GPU, which is being adopted by major enterprises like Disney, Foxconn, Hitachi Ltd., Hyundai Motor Group, Lilly, SAP, and TSMC. The company also introduced NVIDIA® Spectrum-XGS Ethernet for connecting distributed data centers and announced collaborations to build NVIDIA Blackwell AI infrastructure in Europe [1].

NVIDIA's strong Q2 2026 performance underscores its leadership in the AI and data center markets, positioning the company as a key player in the global technology landscape.

References:
[1] https://nvidianews.nvidia.com/news/nvidia-announces-financial-results-for-second-quarter-fiscal-2026