Nvidia's Q2 FY2027 Revenue Hits $96.2 Billion, Beating Guidance by $5.2 Billion

Nvidia reported second-quarter fiscal 2027 revenue of $96.2 billion on August 26, 2026, up 106% year over year and ahead of the $91.0 billion guidance the company issued in May. Data Center revenue came in at $89.0 billion, a 117% increase. The quarter closed July 26, 2026, and the company hosted its earnings call at 2 p.m. PT (5 p.m. ET) on August 26 Nvidia News.

The beat over guidance is roughly $5.2 billion, or about 5.7% above the $91.0 billion midpoint Nvidia projected when it reported Q1 FY2027 results on May 20 Nvidia News. Wall Street's consensus estimate for the quarter was $2.09 in earnings per share (the portion of a company's profit allocated to each outstanding share of stock), per CNBC's August 25 reporting CNBC. Data Center's $89.0 billion contribution accounts for roughly 92.5% of total revenue, a metric worth tracking given the segment's 117% growth rate, which outpaces even the company-level 106% figure.

Global semiconductor equities traded on edge heading into the print. In Asia, Japan's Nikkei fell 0.4% on August 24, dragged by chip-related stocks ahead of the results WSJ. An earlier QNA report put the decline at 0.7% to a close of 65,528.09, with Fujikura down 5%, Advantest off 3.9%, and SoftBank Group losing about 5% QNA. European chip stocks traded mixed the same day WSJ.

U.S. chip stocks rallied into the print. On August 24, Nvidia shares rose 2%, and the broader semiconductor sector gained ahead of the after-the-bell report on Wednesday, August 26 CNBC. The S&P 500 closed higher that day, and the Dow extended a three-day win streak. Nvidia shares were up more than 13% year to date as of August 24 CNBC.

The pre-earnings rally and post-print volatility echo patterns seen earlier in Nvidia's earnings cycle. In May 2026, when Nvidia reported Q1 FY2027 results, shares closed up 1.3% but saw volatile after-hours trading after the company forecast Q2 revenue above Wall Street expectations Reuters. Following that report, Japan's Nikkei surged as much as 2.2% to hit a record intraday high before closing at 64,999.41 on May 27 Reuters. The S&P 500 and Nasdaq also notched record closes in late August 2025 after Nvidia's prior-year results buttressed an AI rally Reuters.

August 2026 has been a volatile month for the semiconductor complex. On August 7, the Nasdaq gained 5.2% on a chip-stock bounce-back, with Nvidia rising 10% CNBC. Three days earlier, on August 4, the Nasdaq Composite closed at 26,584.99 after a 2.59% gain as chip stocks continued their comeback from a July washout CNBC. Major indexes hit record highs that same session on upbeat forecasts from Caterpillar and others Reuters. Asian semiconductor stocks extended their rebound on August 13 amid easing concerns over U.S. rate hikes CNBC. AMD shares slipped on August 5 despite beating analyst estimates, falling short of investor expectations Reuters.

The broader context here is that Nvidia's Q2 FY2027 print arrives after a quarter in which the stock has already appreciated more than 13% year to date. The $5.2 billion revenue beat against May guidance is meaningful but not transformative relative to the company's trajectory; a 5.7% upside on $91 billion guidance is a smaller percentage surprise than the blowout prints that characterized Nvidia's 2024 and 2025 cycles. The 106% year-over-year revenue growth, while extraordinary in absolute terms, reflects continued deceleration from the triple-digit-plus growth rates that defined earlier quarters in the AI buildout cycle.

What matters for market participants is the guidance for Q3 FY2027 and any commentary on supply constraints, particularly around next-generation Blackwell architecture shipments and Data Center demand visibility. With Data Center now representing over 92% of total revenue, the segment's 117% growth rate and its trajectory will be the primary variable for forward earnings models. The pre-earnings chip-stock rally across U.S., Asian, and European markets signals that a meaningful portion of the beat was already priced in, which raises the bar for the post-print reaction. The August 24 Nikkei decline, where AI-exposed names like Advantest, Fujikura, and SoftBank Group led losses, is consistent with de-risking behavior ahead of a binary event rather than a fundamental deterioration in the semiconductor cycle.