NVIDIA Corporation Q2 FY2027 Earnings Call

· Earnings call transcript and AI-powered summary

Date: August 26, 2026 | Participants: Jensen Huang (CEO), Colette Kress (CFO)

Key Financial Highlights

  • Total Revenue: $96 billion, more than doubled year-over-year (YoY). Record revenue, operating income, and EPS.
  • Data Center Revenue: $89 billion, +18% quarter-over-quarter (QoQ). Hyperscale: $49 billion (+13% QoQ); ACIE (NeoCloud, industrial, enterprise): $40 billion (+25% QoQ, +138% YoY).
  • Gross Margins: 75% (GAAP and non-GAAP), largely unchanged from Q1 FY2027 due to similar product mix.
  • Operating Expenses: GAAP +10% QoQ, non-GAAP +11% QoQ (driven by compute infrastructure and compensation costs).
  • Shareholder Returns: Record $26 billion returned in Q2 ($20B repurchases + $6B dividends at $0.25/share). 60% of YTD free cash flow returned (vs. 50%+ target).
  • Balance Sheet: Inventory rose to $32 billion (preparing for Vera Rubin); DSO at 60 days due to extended terms for investment-grade customers.

Guidance and Outlook

  • Q3 FY2027 Revenue: $108 billion ±2% (driven primarily by ACIE; hyperscale growth to reaccelerate in Q4+).

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Operator: Good afternoon. My name is Tiffany, and I will be your conference operator today. At this time, I would like to welcome everyone to NVIDIA's second quarter earnings call. [Operator Instructions]. Toshiya Hari, you may begin your conference. Toshiya Hari: Thank you. Good afternoon, and welcome to NVIDIA's conference call for the second quarter of fiscal 2027. With me today from NVIDIA are Jensen Huang, President and Chief Executive Officer; and Colette Kress, Executive Vice President and Chief Financial Officer. Our call is being webcast live on NVIDIA's Investor Relations website. The webcast will be available for replay until the conference call to discuss our financial results for the third quarter of fiscal 2027. The content of today's call is NVIDIA's property. It can't be reproduced or transcribed without our prior written consent. During this call, we may make forward-looking statements based on current expectations. These are subject to a number of significant risks and uncertainties, and our actual results may differ materially. For a discussion of factors that could affect our future financial results and business, please refer to the disclosure in today's earnings release, our most recent Forms 10-K and 10-Q and the reports that we may file on Form 8-K with the Securities and Exchange Commission. All our statements are made as of today, August 26, 2026, based on information currently available to us. Except as required by law, we assume no obligation to up

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